Siberia | Telecoms, media | Finance, business

Alfa-bank to loan $67m to Sibirtelecom

11 Oct '10
Alfa-Bank has been announced the winner of an open tender, held by interregional telecom operator Sibirtelecom, for two loan contracts worth a total of $67m, the company reports.

Under plans, the company is to open two five-year $33.5m revolving lines of credit with the bank.

The interest rates, offered by the bank for the two lots, are 7.96% and 7.91%, the firm said.

Another bidder at the auction was Sberbank.

As Marchmont wrote earlier, the raised funds were to be used to finance the companys 2010 investment program, as well as daily operations, including dividends payout, refinancing earlier debts and bills redemption.
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