OREANDA-NEWS  On 16 October was announced, that OJSC VolgaTelecom notifies of holding public auction of selecting a financial institution for concluding contracts of establishing nonrevolving credit line of the total amount of RUR 3,2 billion.

The auction comprises five lots:

Lot 1. The contract of establishing nonrevolving credit line of the credit ceiling of RUR 900 million.

Lot 2. The contract of establishing nonrevolving credit line of the credit ceiling of RUR 670 million.

Lot 3. The contract of establishing nonrevolving credit line of the credit ceiling of RUR 630 million.

Lot 4. The contract of establishing nonrevolving credit line of the credit ceiling of RUR 500 million.

Lot 5. The contract of establishing nonrevolving credit line of the credit ceiling of RUR 500 million.

The funds will be allocated for financing VolgaTelecom’s day-to-day operations and investments as well as for the replenishment of current assets.

The contract’s initial (ceiling) price is defined by maximum interest rate on the credit and is as follows:
Lot №1 – 16% per annum; Lot №2 – 15,8% per annum; Lot №3 – 15% per annum; Lot №4 – 15,5% per annum and Lot №5 – 15% per annum.

Bids for the open auction are accepted before October 28, 2008. The auction will be held on October 30, 2008 at 11:00 a.m. at: General Directorate, OJSC VolgaTelecom, Dom Svyazi, M.Gorky Square, Nizhny Novgorod city.

More detailed information about the auction’s terms, auction’s documentation, and specimens of forms and documents to be filled in by the bidders of open auction is available at:
http://www.vt.ru/12379.