Athens - July 02, 2008 - INTRACOM TELECOM, a part of SITRONICS Telecom Solutions business division, today announced that it has signed an €150 million bond loan agreement. Mandated Lead arranger is Alpha Bank, Lead Arrangers are HSBC and Geniki Bank, Arrangers are National Bank of Greece and Piraeus Bank and Managers are E.F.G. Eurobank, FBB, Aspis Bank and Millenium Bank.
The proceeds of the loan will be used to refinance existing bank indebtedness of INTRACOM TELECOM and to finance the company's development plans which mainly include investments for undertaking of new projects and its expansion to new markets.
INTRACOM TELECOM is a leading developer and producer of telecommunication systems as well as provider of integrated solutions and professional services to fixed and mobile operators in the EEMEA region. Over 100 customers in more than 50 countries choose INTRACOM TELECOM for its state-of-the-art products and solutions. INTRACOM TELECOM has 2,700 employees, operates subsidiaries in 14 countries and is amongst the largest European companies leading in R&D investments. Since June 2006, INTRACOM TELECOM has been controlled by JSC SITRONICS (Russia) with 51%. JSC SITRONICS is the technology subsidiary of JSFC SISTEMA, the largest consumer services company in Central and Eastern Europe. INTRACOM HOLDINGS Group (Greece) retains a 49% stake.