Russia's Megafon agrees debt restructuring with Sberbank

July 1, 2016 6:32 PM

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MOSCOW, July 1 Megafon, Russia's second-biggest mobile phone network operator, has agreed extensions of its credit lines with Sberbank and a separate 30 billion rouble ($470 million) loan with the bank, maturing in 2022.

The extensions were for a 29.5 billion rouble loan, now payable in 2022 rather than 2018 and a separate 37.7 billion rouble loan extended to 2023 from 2020.

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