17th Jun 2014 09:20
PIK Group agrees a RUB 23.4 bn refinancing deal with VTB Capital
Moscow, 17 June 2014 - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, announces that it has signed a loan agreement with VTB Capital plc to receive a one year (360 days) loan of RUB 23.4 billion with a subsequent extension option of 5 years. The proceeds will be used to refinance the loan from Sberbank, which expires in September 2014 and the loan with NOMOS-BANK, as well as to finance current working capital needs.
About PIK Group
PIK Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 220,000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.9 million square meters and a dedicated professional team with over 11,000 employees. For more information please visit: http://www.pik-group.com
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Investors | Media |
Andrey Machanskis | |
Head of Investor Relations | Public Relations |
Tel: +7 495 505 97 33 ext. 1157 / 1315 | Tel: +7 495 505 97 33 ext. 1010 /1014 |
E-mail: [email protected] | E-mail: [email protected] |
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