17th Feb 2014 08:34
PIK Group prepays a total of RUB 3.8 bn in bank loans
Moscow, 17 February 2014 - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, announces that in line with the Group's debt reduction and optimization strategy it has paid down a total of RUB 3.8 billion of loans ahead of schedule.
The prepayments were made to the following lenders:
Sberbank - partial prepayment of RUB 1.5 bn
Nomos Bank - partial prepayment of RUB 1.1 bn
Rosbank - full prepayment of US$35.5 million (equivalent to RUB 1.2 bn)
Following the prepayments PIK Group's consolidated debt is equivalent to RUB 25.5 bn (including accrued interest).
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 14 million square meters of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.5 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 | Public Relations |
Head of Investor 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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