OREANDA-NEWS. May 11, 2009. Sviaz-Bank is going to lend 3 billion rubles in a loan to the Southern Telecommunications Company (STC) PJSC, after the bids submitted for the public auction that the company held on May 5, 2009, were considered, reported the press-centre of Sviaz-Bank.

The loan will be made for the period ending in December 2010, with a possible extension until June 2012.

Sviaz-Bank will also open a revolving credit line of 1.5 billion rubles to Dalsviaz, Ltd., after it won in the company’s public auction on April 29, 2009. The credit line can be drawn down over a period of 24 months.

“Sviazinvest Group is Sviaz-Bank’s strategic partner. The Bank actively cooperates with all the interregional communication companies joined together in the Group. At the time of crisis, when the financial market feels a shortage of resources most acutely, this cooperation is very beneficial to both parties,” said Olga Oleinik, Vice Chair of Sviaz-Bank’s Management Board. “Later on, we are going to participate in public auctions for the right to enter into loan agreements on acceptable financing terms.”