Companies@UA: База компаний Украины

Kyiv, August 6 (Interfax-Ukraine) – A subsidiary of Turkey's Turkcell, Financell (the Netherlands) has prolonged the refinancing support of credit liabilities of Kyiv-based Astelit Ltd. (the life:) trademark), in which the company owns a 55% stake.

As reported, Turkcell in July 2007 undertook commitments to pay a $390 million syndicated credit issued to the Ukrainian mobile operator in 2006 by ING Bank N.V. and Standard Bank plc.

Astelit's press service told Interfax-Ukraine that the existing credit terms foresee an annual revision of terms, depending on the conditions of fund raising on international markets by Financell.

As reported, according to the restructuring of the debt, Astelit was obliged to return the sum within 1.5 years, in H1, 2009.

Astelit has been operating on the Ukrainian mobile communications market since start of 2005. Its only shareholder is Euroasia Telecommunications Holdings B.V., 55% of which belongs to Turkcell, and 45% to Donetsk-based CJSC System Capital Management.