On 20th January 2009 OJSC North-West Telecom repaid the last tranche of 5,573,800 euros in the framework of syndicated loan repayment.

Thus, North-West Telecom has completely repaid the first syndicated loan of 50 million euros 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 EUBOR3M +2%.

OJSC N.W. Telecom was the first of the companies of the OJSC Svyazinvest group who successfully entered the international market of capital, having expanded the accessible circle of long-term financing instruments, and thus diversified the structure of borrowed capital.

Venera Khusnutdinova, Deputy General Manager in Charge of Economics and Finance of OJSC North-West Telecom noted: "North-West Telecom has fulfilled all its obligations in time, having proven its reputation as a reliable borrower in the current difficult situation in the financial markets."

At the moment, OJSC N.W. Telecom has already borrowed another two syndicated loans. You can find more detailed information on them at the company's corporate web site in the section «Economics and Finance».