Press Releases
Matáv announces the signature of a loan agreement with Deutsche Telekom on a short term Hungarian forint denominated loan
Budapest, July 7, 2003
Matáv has been granted a one year loan of HUF 126.6 billion effective
from August 14, 2003. This loan will be used to refinance EUR 525
million of the expiring loan agreement that was used to the acquisition
of the 49% Westel stakes at the end of 2001. At the end of March 2003,
EUR 630 million of the EUR 920 million loan was still outstanding.
The new facility has favorable market conditions determined on an
arms-length basis. The conditions are similar to those in the previous
agreement. Matáv currently holds a BBB+ credit rating from Standard
& Poor’s and Baa1 from Moody’s.