LenSpetsSMU decreases indebtedness on leases by 34mn USD

16.12.2010

On 15th December, LenSpetsSMU made early repayments on the financial lease-back of two commercial buildings to the Bank of Saint-Petersburg totaling 34mn USD.

The indebtedness on the lease for Trade & Exhibition Center “AURA” for 20.9mn USD (initial maturity schedule 20/05/2014) and that of Business center “On Smolenka River” for 13.4mn USD (initial maturity schedule 15/07/2014) were redeemed in full and ahead of the due date.

LenSpetsSMU is looking forward to continuing its partnership with the Bank of Saint-Petersburg.


Based on these redemptions, the credit portfolio now totals 292.4mn USD as of 15.12.2010, with net debt at 211.1mn USD.

Previously, on December 3, the KIT Finance Investment Bank credit line for 13mn USD and GLOBEX Bank credit line for 20mn USD were redeemed in full and ahead of the due date.

CONTACT DETAILS:

Natalia Menzel, Head of Public Relations

tel. (812) 348-21-25, e-mail: menzel_n@lenspecsmu.ru

Viktor Vasenev, Deputy CFO

tel. (812) 348-09-95, e-mail: vasenev_v@lenspecsmu.ru