Russia’s Rostelecom has secured a Rbs4bn (US$77.2m) credit line with Moskovskiy Kreditnyi Bank (MSK).
The funds will be provided in tranches and used for purposes such as working capital, refinancing existing debt, research and development and other…
Russia’s Rostelecom has secured a Rbs4bn (US$77.2m) credit line with Moskovskiy Kreditnyi Bank (MSK).
The funds will be provided in tranches and used for purposes such as working capital, refinancing existing debt, research and development and other capital expenditures, the state-controlled telco said in a statement.
The maximum interest rate will equal the base MosPrime interest rate plus 1% per annum.
Last month, Rostelecom won the approval of the Federal Antimonopoly Service (FAS) to take control of local online video streaming service RuTube. Local reports have valued the telco’s planned purchase of a 74.7% stake from Gazprom Media, the media arm of state-owned energy giant Gazprom, at around Rbs4bn (US$86m) and the whole of RubTube at Rbs5.5bn (US$118m).
