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Sitronics

November 25, 2011

SITRONICS refinances US$230 mln loan of the Bank of Moscow

MOSCOW, Russia November 25, 2011 JSC SITRONICS (LSE: SITR) (SITRONICS or the Company), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, today announces that it has signed 7-year loan agreements totally worth US$ 230 million with JSC RTI to refinance the loan arranged by the Bank of Moscow in November 2009:

  • aUS$ 115 million loan agreement with interest rate of 3-month LIBOR + 7.25%,
  • a RUB 3.6 billion loan agreement with interest rate of the CBR refinancing rate + 2.75%.

SITRONICS has also signed a surety agreement with the Bank of Moscow to provide its surety on the loan agreements totally worth US$ 230 million between JSC RTI and the Bank of Moscow.

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