VTB Bank has approved a
The company plans to use the financing for investment projects.
"TransTeleCom has been a VTB Group client for more than two years," said Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank. "It is a
"The bulk of TransTeleCom investment currently goes into its mainline infrastructure development," said Vyacheslav Sotnik, TransTeleCom’s first Vice President for Economics and Finance. "This year we plan to finish the construction of our ULH DWDM 100G network. We also aim to grow in the retail segment and are considering other areas of business. We have a fairly comfortable debt load, with overall debt totalling about RUB 17 billion and debt to EBITDA ratio below 3. The borrowed funds will help us to achieve high efficiency with our investment projects."
TransTeleCom is one of Russia’s top five telecom operators, 99.99% owned by the rail monopoly, RZD. The operator manages and services one of Russia’s largest fiber optic networks with a total length of 76,000 km and a throughput capacity of 1.6 Tbit/sec. The company delivers a wide range of communications and data transmission services through 17 regional offices established in Russia’s biggest cities. It also offers broadband services based on the most advanced technology to individuals and companies around the country, and its subscription base exceeds 1.5 million users.
TransTeleCom is also active on global markets. Its EurasiaHighway transcontinental mainline is connected with networks in nearly all neighbouring countries including China, Japan, Mongolia, North Korea, Finland, the Baltics and the CIS member states, and is the optimal communications channel between Europe and Asia. In 2012, the operator reported RUB 0.7 billion in net profits under International Financial Reporting Standards on revenue of RUB 27.1 billion and OIBDA at RUB 4.8 billion.