LenSpetsSMU made an early repayment under the credit line in EUR opened by Alfa-Bank in the international financing deal for "Jubilee Quarter 78A" project


On 17 April 2014 CJSC SSMO LenSpetsSMU according to the conditions of the credit agreement took an opportunity to make an early repayment under the credit line in EUR opened by Alfa-Bank in the international financing deal for one of the apartment blocks of "Jubilee Quarter 78A" project in amount of EUR 8.4 mn.

The early repayment decision was made within the scope of optimization of the company’s credit portfolio, including minimizing currency risks.

In 2010, in order to secure implementation of the project, LenSpetsSMU joined forces with Budostal-3 Export and Alfa-Bank, under the participation of a consortium of German banks and the Polish export credit agency KUKE S.A. to strike Russia’s first deal involving the attraction of import-export financing in the residential construction segment. On 8 August 2012, CJSC SSMO LenSpetsSMU received authorization for commissioning of the property, encompassing total and useable space of 66,601.5 sq m and 52,939.2 sq m, respectively.


Founded in 1990, Alfa-Bank is a full-service bank operating in most sectors of the financial market, including retail and corporate lending, investment banking, leasing, trade and structured finance.

Alfa-Bank is Russia’s largest private bank in terms of total assets, total equity, customer accounts and loan portfolio.

According to the audited IFRS financial statements for 2013, the Alfa Banking Group, which comprises OJSC Alfa-Bank as well as its subsidiary financial companies, had total assets of $48.6 bn, gross loans of $34.0 bn, and total equity of $4.8 bn. Net profit after tax for 2013 amounted to $900 mn.

The Alfa Banking Group’s corporate and retail client base has grown considerably over the last several years: as of January 1, 2014 the Alfa Banking Group served around 109 thousand corporate and 10.6 mn retail customers, while the branch network expanded to 617 offices across Russia and abroad, including a subsidiary bank in the Netherlands and financial subsidiaries in the United States, the United Kingdom and Cyprus.

Etalon Group, with CJSCSSMO LenSpetsSMU as part of it, is one of Russia’s largest and oldest homebuilders in St. Petersburg and expanding its presence in Moscow and the Moscow region. Consequently in St. Petersburg LenSpetsSMU commissioned 361 945.00 square meters (which is equal to NSA 361 169. 50 square meters).

According to results for 2013 total assets of Etalon Group stands at RUB 83 570 mn, revenue increased to RUB 39 921 mn, EBITDA – RUB 9 430 mn.


Elena Kazakova

Head of Public Relations

+7 (812) 348-21-25


Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95