CenterTelecom Raised USD 115 Million In Long-Term Financing
OREANDA-NEWS. OJSC CenterTelecom, major provider of fixed-line telecommunications services in the Central Federal District of Russia, today announced the closure of the deal whereby the Company raised USD 115 million of financing for the period of four years. Deutsche Bank acted as the lead-manager of the deal.
A significant portion of the borrowing amount is to be placed in the form of Credit-Linked Notes (CLN).
In line with CenterTelecom’s Financial Strategy approved by the Company’s BoD, raised funds will be used to restructure and refinance CenterTelecom’s existing debt.
This type of financing enables the Company to significantly reduce its cost of debt and optimize its debt structure by balancing short-term and medium-term principal debt repayments.