MOSCOW, November 17 (RIA Novosti) - Russian wire and cellular communications operator Uralsvyazinform plans to place its seventh bond issue totaling 3 billion rubles ($104 million) at the end of the first half of 2006, the company's chief executive, Anatoly Ufimkin, said at the presentation of the sixth bond issue Thursday.
The bond issue was organized by Svyaz-Bank, Deutsche Bank, and Promsvyazbank. The 6-year loan will be paid off in parts - the first 20% in four years and then 20% every six months.
Ufimkin said the company planned to reduce investment volume by 35% from $340 million in 2005 to $220 million in 2006 and to $190.4 million in 2007 because it had almost completed its modernization.
The CEO said the number of company subscribers would grow from 3.5 million to 4.1 million in 2006.
