Rostelecom attracts loans for 18 billion rubles

Rostelecom plans to raise loans totaling 18 billion rubles. Gazprombank provides 10 billion and 8 billion is the winner announced by the competition operator. The funds are planned to be spent on operations, investment projects and debt refinancing, Vedomosti writes . The agreement with Gazprombank provides for the possibility for Rostelecom to take short loans of up to 30 days.

Preparing and conducting a procurement procedure for a short-term loan takes longer than the duration of the loan. And the agreement with Gazprombank allows the company to abandon the need to purchase each short-term loan separately.

As for the second loan in the amount of 8 billion rubles, this is a long-term loan. The company plans to borrow funds to finance investment projects and refinance debt.
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It should be noted that capital expenditures for the purchase of equipment are a significant part of the telecoms operators' budget, and the company often attracts borrowed funds to provide this costly item. At the same time, stable flows of subscriber payments make the telecommunications company a good borrower in the eyes of the bank.