The board of directors of the largest fixed-line communications operator in the Central Federal District, which is home to more than 20% of Russia's population, made decision on the loan Friday but did not specify a timeframe.
Yana Lavrentyeva, the director of the CenterTelecom information policy department, said the company would also have to decide on whether to raise these funds as credit-linked notes or as a syndicated loan.
"Everything will depend on the market situation," Lavrentyeva said.
CenterTelecom, which is part of Svyazinvest state telecoms holding, had a charter capital of 6.31 billion rubles (about $234 million) as of July 1, 2006. The company's shares are listed on the Russian Trading System stock exchange and the Moscow Inter-Bank Currency Exchange, and its Level-1 American Depositary Receipts circulate on the U.S. over-the-counter market and the Berlin and Frankfurt stock exchanges.
