OREANDA-NEWS. January 26, 2009. North-West Telecom JSC paid the last tranche of EUR 5,573,800 according to the schedule of syndicated loan repayment.

Thus, North-West Telecom has completely redeemed the first syndicated loan of EUR 50 million that was borrowed in December 2005 (see Press Release of 25.01.06.). The lead managers of the loan were: Citibank N.A., ING Bank (Eurasia), Bank Societal General Vostok, Moscow Narodny Bank Limited. The loan was borrowed for 37 months, the credit rate was Euribor3M +2%.

North-West Telecom JSC was the first of the Svyazinvest group companies, who successfully attracted funding from global capital market, so NWT having expanded available long-term instruments and as a result it could diversified own debt structure. 

Venera Khusnutdinova, Chief Financial officer, North-West Telecom JSC noted: "North-West Telecom has fulfilled all its obligations in time, having proven its reputation as a reliable borrower in the current difficult environmental in the financial markets."