LenSpetsSMU lowers its debt load by USD 9.5 mn

05.02.2013

On 4 February 2013, the next regularly-scheduled date for loan repayment, CJSC SSMO LenSpetsSMU redeemed the fourth tranche of the non-revolving line of credit extended by CJSC Raiffeisenbank in the amount of USD 1.58mn, in full and on time, and made an early payment on the outstanding balance of debt owed to CJSC Raiffeisenbank in the amount of USD 7.91 mln. Thus, the debt load of CJSC SSMO LenSpetsSMU was lowered by USD 9.5 mln.

The early repayment decision was made within the scope of optimization of the company’s loan portfolio, including with respect to lowering its share of short-term borrowing and minimizing currency risks.

REFERENCE

The renewable credit line with Raiffeisenbank for RUB 400mn was opened on 4 May 2011 (for the equivalent amount in USD). According to the credit facility agreement, CJSC SSMO LenSpetsSMU had drawn down a cash total of USD 14.24mn as of May 17th 2011.

CONTACT DETAILS:

Kseniya Savchuk

Acting head of Public Relations

+7 (812) 348-21-25

Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95

Yana.Yashchenko@etalongroup.com