Press release
Krasnodar, September 16, 2009: Southern Telecommunications Company (UTK) [RTS: KUBN, KUBNP; ÌICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the largest fixed-line telecommunications operator in the Southern Federal District of Russia, hereby announces that on September 15, 2009 public tenders were held for the right to stipulate a non-revolving credit line with a credit limit of Rub 3 bln.
Nordea Bank OJSC and Bank VTB OJSC took part in the tenders. The maximum rate provided for in the agreement was 16.5%. Nordea Bank OJSC was declared to be the winner of the tenders after entering a bid for the lowest interest rate, equal to 14.6%.
A lending agreement will be concluded with this lending institution for extending a 3-year Rub 3 bln non-revolving credit line once the transaction has been approved by the company’s board of directors.
