OREANDA-NEWS. On April 10, 2007 OJSC CenterTelecom announced the results of an open tender for the provision of a revolving credit line for up to RUR 3 billion for two years, reported the press-centre of  OJSC CenterTelecom.
A tender commission, meeting April 6, selected Joint Stock Commercial Savings Bank of the Russian Federation (Sberbank). The interest rate offered is 7,9% per annum. The contract between CenterTelecom and the selected bank will be signed by April 24. Tender organizer was CJSC Electronic Trading System.
In accordance with the terms of the tender, announced on March 5, a ceiling of 9,5% per annum was set by CenterTelecom. OJSC VTB Bank and OJSC Bank of Moscow also took part in the tender. The top rate offered was 9,47% per annum.
According to Alexander Lutskiy, CenterTelecom Deputy General Director and Financial Director, the tender provided transparency at all stages and equal conditions for all applicants, and as a result, interest costs were reduced by 17%.