OREANDA-NEWS. On 28 August 2009 the results were announced for a public tender held for the right to stipulate a contract for a Rub 1 bln credit line.  The tender was tender was held in accordance with Federal Law # 135-FZ “On the Protection of Competition”.

Tender bids were accepted from the following banks: UniCreditBank, Globex, Interregional Commercial Bank for the Development of Telecommunications and Data Processing (Svyaz-Bank).

The tender committee evaluated and compared the bids placed at the tender in accordance with the criteria and the procedure which was shown in the notification on conducting the tender and the tender documentation.  Interregional Commercial Bank for the Development of Telecommunications and Data Processing (Svyaz-Bank) was declared to be the winner of the tender, having placed a bid for the most convenient terms of the credit line.  According to the terms of the tender documentation and application, an agreement was concluded between Sibirtelecom and Svyaz-Bank on the following terms and conditions:

-          the duration of the credit line is 60 months from the date on which the first tranche was issued;

-          the interest rate for use of the loan resources is 15.9%;

-          commission for opening the loan account is 0.2% of the credit line limit;

-          the credit line is not guaranteed by security.

The proceeds raised from credit resources are to be used to finance current operating activities.

More detailed information is available on the above-described tender on the official website of the company in the segment entitled ‘Tenders and auctions”.