CJSC SSMO LenSpetsSMU signed credit line with PJSC «Sovcombank»

20.08.2015

On 31 July 2015, PJSC «Sovcombank» and CJSC SSMO LenSpetsSMU signed an agreement to open a credit line totaling 1.5 bn rub. The credit line, opened for a period of 58 months, can be received to replenish the company’s working capital. On 18.08.2015 CJSC SSMO LenSpetsSMU made the first drawdown amounted 500 mn rub.

REFERENCE

CJSC SSMO LenSpetsSMU (a member of LenSpetsSMU group) - one of the largest development companies on the St. Petersburg’s residential real estate 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 for January 1, 2015 amounted to 73.9 mn rub.

PJSC «Sovcombank» operates at the financial market for more than 20 years. Sovcombank is included into the list of the largest Russian banks. According to the consolidated statements as of January 1 the volume of equity amounted to 11.6 bn rub, credit portfolio amounted to 116.8 bn rub, assets amounted to 201.8 bn rub. Sovcombank is one of the top fifty Russian banks with the high developed regional branch network within about 2 000 offices.

CONTACT DETAILS:

Savchuk Ksenija Valer'evna

Head of Public Relations

+7(812) 348-21-25, e-mail: Kseniya.Savchuk@etalongroup.com

Yana Yashchenko

Deputy CFO

+7(812) 349-38-40, e-mail: Yana.Yashchenko@etalongroup.com