LenSpetsSMU and UBRD sign an agreement of a credit line in the amount of 1.5 bn rub

05.05.2015

UBRD and LenSpetsSMU signed an agreement of a credit line totaling to 1.5 bn rub for 4 years and can be used for company’s working capital replenishing.

According to Alexander Kazanskiy (head of UBRD branch “Saint-Petersburg”) LenSpetsSMU and UBRD are in the good partnership relations. Alexander Kazanskiy said, “One of our priorities – lending to the real economy. In today’s economic environment, it is very important to continue lending to the development industry. Housing finance in the northern capital will contribute to the city development. The borrower is included to the list of organizations, loans that can be refinanced by Central Bank”.

CFO of Etalon Group Company Viktor Y. Vasenev said, “In the current macroeconomic environment LenSpetsSMU maintains a cautious and conservative approach in external fundraising, including for the purposes of loan portfolio duration increase. UBRD provided a credit line which is in line with our financial policy in the current economic environment.”

REFERENCE:

CJSC SSMO “LenSpetsSMU” (part of LenSpetsSMU group) – one of the largest development companies within the Saint-Petersburg’s housing market. Since the inception LenSpetsSMU group has commissioned more than 160 residential and commercial premises with a total are more than 3.9 mn sq. m. being one of the leaders in terms of residential premises delivery in Saint-Petersburg over the last years. According to the consolidated statements of CJSC SSMO “LenSpetsSMU” revenue for 2014 amounted to 39.4 bn rub, EBITDA amounted to 10.2 bn rub, total assets as for January, 1 amounted to 73.9 bn rub.

PJSC CB “UBRD” operates at the financial market for more than 25 years. UBRD is included into the list of the largest Russian banks. According to the UBRD consolidated statements as of January 1, 2015 the volume of equity amounted to 24.3 bn rub, credit portfolio amounted to 144.1 bn rub. assets amounted to 247.6 bn rub. Currently UBRD is one of the top ten Russian banks with the most developed regional branch network with more than 460 offices within more than 64 regions of Russian Federation.

At present time, taking into account the credit line between CJSCJ SSMO LenSpetsSMU and PJSC CB UBRD there are conducted credit agreements with a total limit of 2.2 bn rub.

CONTACT DETAILS:

Savchuk Ksenija Valer'evna

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