OREANDA-NEWS. March 23, 2012. Sviaz-Bank has endorsed a credit line of 2.3 billion rubles to TransTeleCom Company (TTC Company), CJSC, for a drawdown period of five years to finance the company’s current business and implement its investment program, reported the press-centre of Sviaz-Bank.

The Bank has been lending funds to the Company since 2009. In 2011, it opened a nonrevolving credit line of 2.7 billion rubles to TransTeleCom Company, CJSC, for five years.

TTC Company is a federal telecommunications company, one of Russia’s five leading communications operators. TTC operates and services a fiber optics communications line over 75,000 kilometers long, one of the biggest in Russia, and offers a wide range of telecommunications services, including communication and data transfer services, and broadband access to the Internet based on state-of-the-art technologies to private and corporate customers across Russia.

“TransTeleCom is a fast-growing company with ambitious goals to reach. Doing business with the Company has convinced us that TTC is a reliable borrower,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board. “More funding from the Bank will help the Company to pursue its initiatives successfully. We are happy that we will continue cooperating with TTC.”

“We have been taking out loans within the framework of the TTC Development Strategy up to 2015. The Company’s current situation allows it to borrow on favorable terms. The loan funds will be used, in the first place, to develop the TTC retail project in the regions and inject finance into its business,” said Vyacheslav Sotnik, TTC’s First Vice President for Economics and Finance.