LenSpetsSMU’s results of the financial year

30.12.2015

LenSpetsSMU’s results of the financial year

30.12.2015

Despite the complicated macroeconomic situation during 2015, CJSC SSMO LenSpetsSMU (hereinafter – LenSpetsSMU) has continued to implement measures focused on financial risks minimizing with the constant monitoring of compliance with loan covenants. The key events of the year are the following:

Affirmance by the international rating agency Standard & Poor's the long-term corporate credit rating of LenSpetsSMU and issue level rating of LenSpetsSMU’s senior secured debt at 'B+'.

Redemption the last company’s borrowing denominated in foreign currency. During 2015, LenSpetsSMU has redeemed the last tranche under the euro credit line totaling to EUR 20 mn opened by Alfa-Bank within the framework of international financing of two buildings of Swallow’s Nest project.

Early redemption and performance of liabilities, including obligations under loan agreements with PJSC “Bank “Saint-Petersburg”, AO Raiffeisenbank, JSC Rosselkhozbank, AO “ALFA-BANK”. During 2015, LenSpetsSMU has payed RUB 1 889 mn under the redemption of loan debt, and also paid amortization of debt amounting to RUB 550 mn with respect to the series 02 CJSC SSMO LenSpetsSMU bond-secured loan.

During 2015 in order to finance the investment and construction projects LenSpetsSMU has attracted funds amounted to RUB 4.1 bn. As part of the continuing cooperation, new credit agreements have been signed with PJSC “Bank “Saint-Petersburg”, PJSC “UBRD”. Additionally, PJSC “Sovcombank” became a new company’s business partner in bilateral lending: in 2015 LenSpetsSMU and PJSC “Sovcombank” signed an arrangement to open a credit line totaling RUB 1.5 bn.

LenSpetsSMU congratulates all the investment community, colleagues in the industry and business partners a Happy New Year and Merry Christmas!

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