Citibank may grant loan to ST

If all goes well, the state-run Slovak Telecom (ST), which faces questions about its credit (See story on Page 1), will receive a $100 million syndicated loan from the American Citibank. The loan, with no governmental guarantee, has a 6.5 percent interest rate over five years and is by far the most favorable rate for a Slovak company provided by a foreign bank. The loan agreement is to be signed this month on the condition that ST is transformed into a j.s.c. with 100 perent state share holding. Funds for the loan will be used to finance part of "Telecommunications Project II," requiring a total investment of 48.7 billion Sk ($1.6 billion).

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