LenSpetsSMU and Raiffeisendbank sign an agreement for a multicurrency credit line in an amount equivalent to USD 25 mln

28.08.2013

The Northern capital branch of Raiffeisenbank has issued CJSC SSMO LenSpetsSMU a loan of USD 25 mln. The credit line is available during 3 years. The company can borrow funds in rubles or US dollars. The funds thus raised will help achieve corporate objectives.

“This is far not the first deal done between Raiffeisenbank and one of the largest construction companies of LenSpetsSMU region. Our collaboration began in 2008, and I hope it will remain as productive as it is now also in future”, – Alexander Konyshkov said, the director of the Raiffeisenbank regional center «North-West».

Commenting on the signing of credit agreement, CFO of CJSC Etalon Management Company Viktor Vasenev underlined the importance of the long-term cooperation between LenSpetsSMU and Raiffeisenbank. Viktor Vasenev has also noted that “new credit agreement will allow LenSpetsSMU to remain flexible in credit portfolio management and effective in financial planning amongst the situation of unstable exchange rates”.

CONTACT DETAILS:

Mikhail Dukhovny

CCO +7 (812) 348-21-25 Mikhail.Dukhovny@etalongroup.com

Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95 Yana.Yashchenko@etalongroup.com