OREANDA-NEWS. November 18, 2009. State-run Sberbank is to float a 3-5 year credit line to Volga-based region telecom operator VolgaTelecom for a total of RUB 6 bn so that the telecom carrier is able to finance its investment program and make acquisitions, VolgaTelecom reported on Tuesday.

Six lots were offered at a tender, i.e., the first and second lots included 3-year loans with a RUB 1 bn limit each with the highest interest rate of 14.5%, 3-year credits of up to RUB 500 mln each at 14.3% formed the third and fourth lots, while the fifth and sixth ones featured 5-year credit facilities for up to RUB 1.5 bn each at 15.3% as the highest. Sberbank offered to provide loans under the first four lots at 12.75% and 13.25% for the fifth and sixth lots without any covenants.