Ukrtelecom Redeems USD 41.7 Million of Credit from Credit Suisse First Boston, Deutsche Bank, and Standard Bank

ukrtelecom-enUkrtelecom, Ukraine’s largest telecommunications company, has redeemed a credit of USD 41.656 million from Credit Suisse First Boston (Switzerland), Deutsche Bank (Germany), and Standard Bank (Britain).

Ukrainian News learned this from a statement by the company, the wording of which was made available to the agency.

The company redeemed the principal debt and paid interests in compliance with the credit agreement on May 25.

As Ukrainian News earlier reported, Ukrtelecom in March 2010 agreed with Credit Suisse First Boston (Switzerland) and Deutsche Bank (Germany) on postponement of repayment of USD 41.656 million in loans until May 25.

Ukrtelecom finished the first quarter with a loss of UAH 36.1 million, having trimmed net revenues by 0.2% or by UAH 3.432 million over the same period of 2009, to UAH 1,675.437 million.

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