Russia’s Rostelecom has confirmed it has secured two loans valued at a total of Rbs15.5bn (US$529.4m) with two separate banks.
A Rostelecom spokesperson said Nordea has opened a three-year credit line for the company of up to Rbs8.5bn (US$290.3m)….
Russia’s Rostelecom has confirmed it has secured two loans valued at a total of Rbs15.5bn (US$529.4m) with two separate banks.
A Rostelecom spokesperson said Nordea has opened a three-year credit line for the company of up to Rbs8.5bn (US$290.3m). The interest rate is equal to one-month Moscow Prime Offered (MosPrime) rate, + 3.25%.
Meanwhile, Alfa Bank is providing a five-year credit line of up to Rbs7bn (US$239.1m) at three-month MosPrime rate, + 3.36%.
The spokesperson said the credit will be used to refinance existing debt “among other objectives”.
In late February, the company said it was looking to raise Rbs100bn (US$3.4bn) in a bond issue in order to refinance its debt load.
Rostelecom had net debt of Rbs138.1bn (US$4.7bn) as of 30 September 2011.
It recently gained full control of local cableco National Telecommunications (NTK) by acquiring a 28.2% stake for Rbs13.8bn (US$465.9m).
