17 Jun '10
Svyaz-Bank will lend $40m to Far East Electrical Communications, the bank said.
The borrower will reportedly open a renewable line of credit for 24 months.
The telecom will use the loan to fund current operations and refinance prior debt, the bank explained.
Svyaz-Bank has a reported network of 49 regional offices across Russia; it is part of VEB Bank.
Far East Electrical Communications, a Svyazinvest subsidiary, is one of the largest landline communications operators in Russia’s Far East.