Rostelecom seeks more funds

Rostelecom is preparing a five-year bond issue of R10 billion (€247.6 million) for January 22.

According to Vedomosti, it will be the second in quick succession – the first, also worth R10 billion, took place last November – and will go towards paying off debts that as of September 2012 amounted to R74 billion.

Rostelecom is Russia’s leading national telco and has over 9 million fixed-line broadband and six million pay-TV subscribers.

Its net income in the first nine months of 2012 amounted to R30.6 billion.