LenSpetsSMU and the BANK OF CHINA (ELOS) sign an agreement on the opening of a revolving line of credit in the amount of RUB 300 mn

10.04.2013

JSCB BANK OF CHINA (ELOS) and CJSC SSMO LenSpetsSMU (part of Etalon Group) have signed an agreement on the opening of a revolving line of credit in the amount of RUB 300 mn. Each tranche can be accessed by CJSC SSMO LenSpetsSMU in Russian rubles for the purposes of replenishing the company’s operating capital.

As Vice President of JSCB BANK OF CHINA (ELOS) Liu Wei observed: “The conclusion by the BANK OF CHINA (ELOS) of the credit agreement with LenSpetsSMU became possible following long and careful study of companies in the construction sector – we’re looking towards the future, towards cooperation with leaders. As you may recall, in 1993, the Bank of China became one of the first foreign banks to open a subsidiary bank in Russia.”

“We believe that signing of the agreement with the BANK OF CHINA will emerge as merely the first step on the road to long-term, far-reaching cooperation,” commented Anton Evdokimov, General Director of CJSC Etalon Management Company.

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