MOSCOW, Russia — MTS (NYSE: MBT; MOEX: MTSS), Russia’s leading telecommunications and digital services provider, announces the full early repayment of a 10-year USD-denominated credit facility secured in 2014 and backed by EKN, Sweden’s Export Credit Agency. The outstanding balance paid amounts to USD 163.9 million.

The facility, which was secured in 2014 to finance purchases by MTS of Ericsson equipment and services, was facilitated by Citibank and the Swedish Export Credit Corporation (SEK) with a total credit line of USD 300 million and amortized repayment schedule through 2024. From the first drawdown date, the utilized amount was fully hedged (i.e. converted into rubles) through cross-currency interest rate swaps.

The full early repayment of the loan is in line with MTS’s strategy to optimize its debt portfolio by decreasing the average cost of debt and increasing its overall tenor. The repayment is financed by the Company’s cash on hand, as well as funds raised in 2019 via ruble-denominated bond issuances.

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For further information, please contact in Moscow:

Investor Relations Department 
Mobile TeleSystems PJSC 
Tel: +7 495 223 2025 
E-mail: ir@mts.ru