OREANDA-NEWS. January 15, 2010. Sviaz-Bank was declared winner in three lots of public competitive bidding for the right to enter into an agreement with Sibirtelecom OJSC on opening credit lines totaling 1.5 billion rubles to the company, reported the press-centre of Sviaz-Bank.

The credit lines can be drawn down for 36 months. The company will use the borrowed funds to finance its general corporate objectives, including refinancing credits and loans taken out by Sibirtelecom OJSC.

“Our principal task is making competitive mutually beneficial proposals to the Bank’s basic customers in all areas of cooperation,” said Sergei Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.

Other participants in the public competitive bidding were UniCreditBank CJSC, Alfa-Bank OJSC, Rosbank Commercial Bank OJSC, Commercial Bank of Moscow (OJSC), VTB Bank OJSC, and Sberbank of Russia.