26th Mar 2007 08:46
X5 Retail Group N.V.26 March 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN X5 Retail Group N.V. postpones rouble bond issue Amsterdam, 26 March 2007 - X5 Retail Group N.V. (LSE ticker: "FIVE"), Russia'sleading grocery retailer, announced today the decision to postpone the firsttranche of its 25 billion RUR Callable Bonds originally planned in threetranches during 2007 and early 2008 to refinance the Group's existing debt andfund its store expansion. Vitaliy Podolskiy, Group CFO , commented on this decision: "We intended to usethe net proceeds of the first tranche (RUR 9 billion) planned for March-April2007 to improve our debt structure taking advantage of favorable marketconditions by converting our foreign currency loans into the Ruble zone andextending our debt maturity. However, while market conditions are improvingafter recent global market correction, current volatility of the market makesthis operation unattractive at this stage. There will be no implications of thisdecision on our operations nor investment plans." The date of the Rouble bonds issue will be announced by X5 Retail Group N.V. indue course depending on market conditions and corporate funding requirements. - End - Note to Editors: X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of31 December 2006, the Group had 451 company-managed "Pyaterochka" soft discountstores located in the Moscow (222), St. Petersburg (204) and Yekaterinburg (25)areas, and 168 company-managed "Perekrestok" supermarkets across Central Russiaand Ukraine, including 100 stores in Moscow. As of 31 December 2006, franchisees operated 605 Pyaterochka branded storesacross Russia, in Ukraine and Kazakhstan. Perekrestok had 10 convenience storesoperated by franchisees in the Moscow area. Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 tocreate the clear leader in the Russian food retail market. The Group's pro forma net sales for the FY 2006 were $3,485 million, up +47% vs.2005 (preliminary management accounts). Pyaterochka chain provided US $1,973million of net sales, while the Perekrestok chain contributed US $1,512 millionof net sales. Forward looking statements: This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can beidentified by the fact that they do not only relate to historical or currentevents. Forward-looking statements often use words such as" anticipate","target", "expect", "estimate", "intend", "expected", "plan", "goal" believe",or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, a number of which are beyond X5Retail Group N.V.'s control. As a result, actual future results may differmaterially from the plans, goals and expectations set out in theseforward-looking statements. Any forward-looking statements made by or on behalf of X5 Retail Group N.V.speak only as at the date of this announcement. Save as required by anyapplicable laws or regulations, X5 Retail Group N.V. undertakes no obligationpublicly to release the results of any revisions to any forward-lookingstatements in this document that may occur due to any change in its expectationsor to reflect events or circumstances after the date of this document. Enquiries to: X5 Retail Group N.V. Gennady Frolov Head of Corporate Communications Mobile +7 495 998 3335 Email gennady.frolov@x5.ru http://www.x5.ru This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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