[October 27, 2009] UTK Makes Advance Repayment of '€šÂ¬55.5 Million Loan to Orgresbank (Nordea Bank) Tweet (M2 PressWIRE Via Acquire Media NewsEdge) KRASNODAR, Russia - Southern Telecommunications Company ("UTK") (RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia's Southern Federal District, announced today that it had repaid ahead of schedule a EUR55.5 million loan from Orgresbank (Nordea Bank). The credit agreement was signed 17 November, 2008 for EUR55.5 million repayable in two years. The interest rate on the loan was three-month EURIBOR + 4%. Vyacheslav Kozelsky, Deputy Director General and Director for Economics and Finance of Southern Telecommunications Company, said that the loan was repaid within the framework of the Company's new financial strategy aimed at mitigation of currency risks and extrending the duration of the Company's credit portfolio. About Southern Telecommunications Southern Telecommunications Company PJSC, or UTK, is the principal provider of fixed line telecommunications for Russia's Southern Federal District, a region covering 521.9 ths sq km with population of 18.4 million people. "UTK" PJSC provides various telecom services of local and intra-zonal telephony, broad range of value-added services (VAS) based on new technologies (services of Internet, VPN, CTV and others). H1 2009 operating revenue of "UTK" PJSC is up 4.9% over H1 2009 to 10,751.1 million rubles (RAS). Number of lines per employee is up 3.9% to 159.4 lines (RAS). Internet broadband access subscriber base includes 452.7 thousand users as of 1 July 2009. UTK is a subsidiary of Svyazinvest holding which owns 38% of the Company's authorized capital. UTK shares are traded in the Classic (KUBN; KUBNP) and Stock (KUBNG; KUBNPG) Markets of OJSC "RTS", in the stock section of the Moscow Interbank Currency Exchange (MICEX) (UTEL; UTELP). One unit of American Depositary Receipt of "UTK" PJSC represents 50 common shares of the Company. UTK ADRs are traded in the US over-the-counter market (STJSY), and quoted in the over-the counter market of Frankfort and Berlin Stock Exchanges (KUE) and NEWEX (KUE). Additional information about the Company can be accessed on the website at www.stcompany.ru, in the Information Disclosure System SKRIN Issuer, in the portal www.cbonds.info as well as in KUBN_RU of the systems Bloomberg and Reuters. ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS [ Back To TMCnet.com's Homepage ]