Sistema Shyam TeleServices Limited (SSTL) has announced raising a $200 million loan. As part of the process, $100 million was raised from ICICI Bank and the remaining $100 million was raised from Barclays Bank.
This loan has been proportionally secured by Russia-based bank, Gazprombank through a standby letter of credit and bank guarantee.
The entire amount of $200 million has been received by SSTL in a single tranche. The three-year loan is payable in 2014.
