OREANDA-NEWS. September 22, 2010. JSC SITRONICS (SITRONICS or the “Group”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, today announced that it has signed a RUB 2.86 billion credit agreement with Bank of Moscow. The agreement's term runs to 21 December 2010. The credit is secured through joint guarantees from JSC SITRONICS Telecom Solutions and LLC SITRONICS IT.

The funds will be used to refinance the redemption of SITRONICS bonds on 21 September 2010. On 30 September 2010, the Group will place RUB 3 billion non-convertible interest-bearing series BO-02 three year bonds and repay the credit. The bonds will be listed on the MICEX Stock Exchange. JSC Bank of Moscow is the organizer and underwriter of the issue.