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MTS amends credit facility, extending maturity to June 23, 2002
By Sara Rosenberg
New York, April 12 - MTS Inc. amended its credit facility to extend the maturity by 60 days to June 23, 2002 and extend certain financial covenants, according to a filing with the Securities and Exchange Commission. JPMorgan Chase Bank acted as administrative agent for the deal.
The company requested an extension on its loan in order to complete the sale of its Japanese operations to Nikko Principal Investments Japan Ltd., for ¥16 billion, or approximately $122 million, a company press release said.
"In addition, the company stated that it intends to refinance its credit facility upon the completion of the sale of the Japanese operations," the release said.
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