Russian regional fixed-line telecom operator Southern Telecom has secured 3 billion roubles ($103 million) of credit lines to fund current activities and refinance debts.
Russia's second-largest bank, VTB opened two three-year credit lines worth 1 billion roubles each and paying annual interest of 14.52 and 14.44 percent, the company said late on Thursday. In a statement on Friday Southern Telecom said that Bank of Moscow opened a three-year, 1 billion-rouble credit line which pays annual interest of 13.86 percent.
The leading fixed-line operator in the south of Russia and controlled by national telecoms holding company Svyazinvest, Southern Telecom also obtained a 3 billion-rouble credit line from Nordic bank Nordea last month.
(Reporting by Maria Kiselyova; Editing by Greg Mahlich)