7th Jan 2010 10:06
PIK GROUP ANNOUNCES FULL RESTRUCTURING OF
SBERBANK RF LOAN PORTFOLIO
(LONDON, 07 January) - PIK (LSE: PIK), a leading Russian residential developer, announces that it has met all the conditions required by Sberbank RF for the restructuring of its loan portfolio and the release of new financing totaling 12,75 bln RUB.
These conditions included the receipt of state guarantees totaling 14,375 bln RUB and loan restructuring agreements with PIK Group's other major creditors, including VTB, Rosbank and Absolutbank.
Enquiries:
|
PIK Group Viktor Szalkay Head of Investor Relations |
Tel: +7 495 505 97 33 ext. 1358 |
|
Citigate Dewe Rogerson Tom Baldock Lindsay Noton |
Tel: +44 20 7638 9571 |
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