Sistema Shyam TeleServices Ltd announced the raising of a loan amounting to Rs 1,280 crore through Non-Convertible Debentures (NCD). Deutsche Bank is the lead banker of the issue. The eight-year debt is payable by 2019.
According to Mr Sergey Savchenko, Chief Financial Officer of Sistema Shyam Teleservices Ltd, “It was quite challenging to raise such significant funds with such long tenor under current uncertain regulatory environment in India, but business has to continue and grow.”
The company had earlier raised Rs 920 crore loan from Barclays Bank and ICICI Bank in September last year.
The operator plans to utilise the proceeds to further scale up telecom operations and repayment of maturing loan.