LenSpetsSMU redeems the last tranche under the euro credit line opened by Alfa-Bank within the framework of international financing of two buildings of Swallow’s Nest project

30.11.2015

On 30 November 2015, CJSC SSMO LenSpetsSMU redeemed in full and on time the fourth (last) tranche totaling to EUR 10.1 mn under the euro credit line opened by Alfa-Bank within the framework of international financing of two buildings of Swallow’s Nest project.

In 2012 LenSpetsSMU and Alfa-Bank, featuring Landesbank Berlin AG and Budostal-3 Export signed the deal of international financing of two buildings of Swallow’s Nest project. The insurance coverage under the transaction was provided by KUKE S.A. In December 2013 CJSC SSMO LenSpetsSMU received the permit to deliver two buildings of Swallow’s Nest project with a total area of 82.7 ths sqm.

The actual maximum debt of LenSpetsSMU under the credit line was EUR 40.5 mn. After the repayment under this credit line, LenSpetsSMU has no borrowings denominated in foreign currencies.

CONTACT DETAILS:

Savchuk Ksenija Valer'evna

Head of Public Relations

+7(812) 348-21-25, e-mail: Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7(812) 349-38-40, e-mail: Yana.Yashchenko@etalongroup.com