Investor Releases
Magyar Telekom refinances its two inter-company loans
Budapest, May 25, 2007
Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, today announced the signature of a Hungarian forint-denominated loan agreement with the Deutsche Telekom Group. The loan will be used to refinance the maturing HUF 20bn and HUF 14bn inter-company loans.
Magyar Telekom has been granted a loan by Deutsche Telekom in the amount of HUF 34 billion. The loan will mature in July 2011 and carry fixed interest rate based on market conditions.
Magyar Telekom currently holds an A- credit rating from Standard & Poor’s and Baa1 from Moody’s.
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