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Rostelekom OAO to Take RUB 4.8 Billion Loans from Two Banks-PRIME

Wednesday, 31 Jul 2013 06:24am EDT 

PRIME reported that Rostelekom OAO (Rostelecom) plans to take out two loans totaling RUB 4.8 billion from Raiffeisenbank and Citibank, the operator said in a statement. Rostelecom will open a RUB 2.4 billion revolving credit line with Raiffeisenbank. The interest rate will depend on the size of tranche taken by the operator. Rostelecom said it plans to use the borrowed funds to finance its operations and investments, as well as to refinance the Company’s debts. Citibank will also provide Rostelecom with a RUB 2.4 billion credit line on similar terms. The funds will be used to replenish the Company’s working capital. 

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