OREANDA-NEWS. November 29, 2010. Rostelecom (RTS and MICEX: RTKM, RTKMP; OTCQX: ROSYY) announces that Gazprombank was declared the winner of a public tender to select the bookrunner for a bond issue to be launched by Rostelecom.  The proceeds of the issue will be used to convert the current bonds of the subsidiaries of Svyazinvest holding[1] into the bonds of Rostelecom. 

Bond conversion will be performed in line with the procedure for creating the framework for Rostelecom’s merger with seven regional telecommunications operators (RTOs).  This decision was adopted at the Annual General Shareholders Meeting of Rostelecom on June 26, 2010.

At present, RTOs have a total of RUR 30 bln of bonds in circulation.

Gazprombank was also selected as the agent to purchase the bonds issued by Rostelecom.

For more detailed information on the terms, conditions and results of this public tender, see Rostelecom’s corporate website in the section “About the company – Public Tenders and Acutions”: www.rt.ru/about/konkurs/1910_2.doc.

[1]  Central Telecommunications Company, Sibirtelecom, Far East Telecom, VolgaTelecom, North-West Telecom, Uralsvyazinform, Southern Telecommunications Company, Dagsvyazinform.