UniCredit Group (UCBG) successfully arranged MegaFon’s Finnvera-covered buyer's credit with a total facility amounting to EUR 150 mln to finance its import contract with one of the European telecom leaders Finnish Nokia Solutions and Networks Oy (NSN) for the supply and installation of fixed and wireless telecommunication equipment, software and related services for MegaFon's network.

MegaFon is the second largest mobile operator in Russia in terms of number of subscribers and revenue, with a strong brand name and a world class level of service.

UniCredit Bank Austria AG, Austria acted as sole Mandated Lead Arranger and Finnvera Agent for this facility. Finnvera is providing cover against commercial and political risks for 95% of the facility amount plus interest. The availability period of the facility is 1,5 years and the amount drawn is amortized over a term of  8,5 years.

Kirill Zhukov-Emelyanov – an AO UniCredit Bank Board Member – commented “Happy to pass my congratulations to the dedicated teams in UniCredit Group for the successful closing of this significant deal in current unfavorable environment. This transaction is a vivid example of the high level of support UniCredit Group is providing to its customers in Russia to back their investments and development.”