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UTK to issue CLNs

February 05, 2008 | RBC

Southern Telecommunications Company (UTK) a fixed-line communications provider in Russia's Southern Federal District, has signed an agreement with Richcom Public Limited on the extension of a $3.5bn loan by means of issuing CLNs. The annual interest rate is set at nine percent. The decision about the issue was made by the company's Board of Directors on January 24, 2008. The loan is to be paid back in two tranches in four and a half and five years.

UTK's Financial Director Alexander Dobryakov pointed out that the loan would be used to pay off some of the company's debts. The loan is also a means of diversification of the company's financial sources.

Company: Rostelecom - South

Full company nameRostelecom - South
Country of riskRussia
Country of registrationRussia
IndustryCommunication

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