Ukrtelecom, Ukraine’s largest telecommunications company, called tender for selection of banks to raise two loans for a sum at least of UAH 250 million, Ukrainian News has learned from a copy of a statement made by the company.
In particular, Ukrtelecom plans to draw a loan in the form of overdraft for a sum not less than UAH 200 million, and also a loan in the same form for a sum not less than UAH 50 million.
Bids accepted until November 23, 10am, bids will be opened on the same day at 2pm.
The auction will be public, tender security is not required,
The loan will be takes in the period from December 2010 to December 2011.
Overdraft lending is a bank loan provided the client lacks or has insufficient funds on the card or current account in the amount previously determined by the bank.
As Ukrainian News earlier reported, Ukrtelecom ended the July-to-September quarter of 2010 with losses of UAH 110.628 million.
The company’s net revenue decreased by UAH 1.394 million or 0.1% to UAH 1,671.558 million in the third quarter, compared with the corresponding period of 2009.
The State Property Fund on October 13 offered for sale the state’s 92.79-percent stake in Ukrtelecom.
