Rostelecom board approves raising 4.5 bln rbl loan from VEB.RF

MOSCOW, Dec 7 (PRIME) -- The board of directors of Russian state-controlled telecom operator Rostelecom has approved raising a 4.5 billion ruble 1.5-year loan from state development corporation VEB.RF, the company said in a statement on Monday.

The interest rate will amount to 0.1x of the central bank’s key rate, which currently stands at 4.25% annually, plus 2.57 percentage points. The loan will be provided in separate tranches within 18 months after signing the credit contract.

The company will use the money to finance projects under the government’s ruling on provision of subsidies for projects aimed at transformation of priority sectors of the economy and social sphere through introduction of national products, which were created on the basis of pervasive digital technologies that cover several trends or sectors simultaneously.

(74.2529 rubles – U.S. $1)

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