Rostelecom appoints Gazprombank to organize bonds to exchange for operator bonds
MOSCOW. Oct 22 (Interfax) - Gazprombank has won the tender held by Rostelecom to organize the issues of bonds that will be exchanged for bonds in the inter-regional operators being folded into Rostelecom.
TCB Capital finished second in the tender, Rostelecom said in materials. Promsvyazbank also participated.
Rostelecom also selected Gazprombank to serve as the agent to acquire the bonds.
It was reported earlier that Rostelecom will use the bonds to exchange for bonds issued by Svyazinvest's interregional operators, which currently have obligations in circulation totaling about 30 billion rubles.
Rostelecom does not plan any new borrowing, company spokesman Oleg Rumyantsev said.
Svyazinvest holds controlling stakes in Rostelecom and regional telecoms CenterTelecom , North-West Telecom , VolgaTelecom , Southern Telecom , Uralsvyazinform , Sibirtelecom and Dalsvyaz , as well as in Central Telegraph , Giprosvyaz and Dagsvyazinform.
Svyazinvest is currently undergoing a reorganization that will see the interregional telecom companies merged into Rostelecom by means of a share conversion. The reorganization is scheduled for completion in the first half of 2011.
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