Press Releases

Matáv to refinance part of its loan expiring in august

Budapest, May 18, 2004 10:00

Matáv announces the signature of a loan agreement with Deutsche Telekom on a short term Hungarian forint-denominated loan. Matáv has been granted a loan by Deutsche Telekom in the amount of HUF 40 billion from May 20, 2004. This loan will be used to refinance HUF 40 billion of the HUF 126.6 billion loan agreement with Deutsche Telekom expiring in August 2004.

The new facility has a 10.945% fixed interest rate for the one year term. The conditions are similar to those in the previous agreement.

Further refinancing arrangements will be finalized at a later date.

Matáv currently holds a BBB+ credit rating from Standard & Poor’s and Baa1 from Moody’s.