OREANDA-NEWS. On 29 April 2008 Southern Telecommunications Company (STC), No. 1 fixed-line operator in the South Federal District of Russia, announced that on the basis of a BoD decision (Minutes #25 dated April 8, 2008) the company signed an agreement on a non-revolving credit line with joint stock commercial bank Bank Societe Generale Vostok.

The loan is equal to Rub 1 bln (one billion), with an interest rate of 1-month Mosprime + 2.75% and interest to be charged for a month. The lender will provide the borrower with the right to receive funds once in the form of tranches which are provided within six months from the date on which the agreement is signed.

The plan is to repay the loan by way of equal payments in 36 (thirty six) months from the signing of the agreement during the last 4 (four) months of the agreement’s validity. The loan provision fee equals 0.25% of the amount lent.