Press release
Southern Telecommunications Company (UTK) [(RTS: KUBN, KUBNP; ÌÌÂÁ: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the largest fixed-line telecommunications operator in the territory of the Southern Federal District of Russia, hereby announces that a public tender was held today on the right to stipulate an agreement to provide a non-revolving credit line with a limit of Rub 3 bln.
Two lending institutions participated in the tenders: Globexbank and ABK Bank of Moscow (OAO). The maximum price for the agreement was 18.4%. The Bank of Moscow (OAO) was declared to be the winner of the tender, placing the lowest interest rate bid for the credit line, equal to 15.64%.
