Megafon secures credit of $300Mn from China Development Bank (Russia, China)

www.WirelessFederation.com/news: Megafon, the third largest mobile operator of Russia, has secured a credit line of $300 million from the China Development Bank, a state-owned bank, in order to finance its purchases of equipment from Huawei Technologies.
Huawei, reportedly said, that the credit line is opened for 7 years at an interest rate of LIBOR plus 270 basis points. The credit financing is part of China’s government programme which aims to support local producers.