LenSpetsSMU redeems the outstanding debt liability under an Import Documentary Credit to bank Saint Petersburg in an International Transaction to Finance the Third Stage of the Orbita Housing Estate.

26.11.2014

On 26th November 2014, CJSC SSMO LenSpetsSMU redeemed in full and on time the outstanding debt liability under an Import Documentary Credit opened with Saint Petersburg in an International Transaction to Finance the Third Stage of the Orbita Housing Estate in the amount of EUR 5.4 mn.

To implement the project, in 2011 LenSpetsSMU and Bank Saint Petersburg, along with participation of the German bank LandesbankBerlin AG, and the Polish construction company Budostal-3 Export Sp. Z o.o., made a transaction securing international construction financing. Insurance coverage for the transaction was provided by the Polish credit agency KUKE S.A. On November 26th, 2012, LenSpetsSMU attained a license to put the site, with a total area 45,036.5 sq. m, into operation.

CONTACT DETAILS:

Elena Kazakova

Head of Public Relations

+7 (812) 348-21-25

Elena.Kazakova@etalongroup.com

Yana Yashchenko

Deputy CFO

+7 (812) 348-09-95

Yana.Yashchenko@etalongroup.com