JSC Open Investments: JSC OPIN announces loan restructuring with Rosbank
EquityStory.RS, LLC-News: JSC Open Investments / Key word(s):
Miscellaneous/Miscellaneous
JSC Open Investments: JSC OPIN announces loan restructuring with
Rosbank
28.10.2011 / 07:00
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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA
JSC OPIN
ANNOUNCES LOAN RESTRUCTURING WITH ROSBANK
Joint Stock Company 'Open Investments' (JSC 'OPIN' or the 'Company')
(BLOOMBERG: RTS - OPIN.RU; MICEX - OPIN.RM), one of the leading real estate
developers in Russia, today announces about successful loan restructuring
with Rosbank.
As a result of restructuring the current interest rate of 11% decreased to
9% and the Company negotiated a more attractive repayment schedule with
over 50% of principal repayment amount postponed till 2012-2013 instead of
October 2011.
Restructuring of the Company's loan portfolio, which as of 30.06.2011
amounted to US$300 million is an important part of OPIN's new strategy. The
Company earlier this year successfully managed to achieve better terms for
loans from Raiffeisen Bank in the amount of US$36 million in May 2011 and
VTB Bank Deutschland AG in the amount of US$49 million in June 2011.
- ends -
For further information, please contact:
Investors:
Stanislav Joukov +7 495 363 2211 ext. 2388
Media:
Anna Rogova +7 495 363 2211 ext. 2513
About OPIN
Established in 2002, JSC OPIN is one of the leading real estate development
companies operating in Russia.
OPIN is focused on the development of master-planned multi-format
residential communities and the operation of high-quality commercial
properties in Moscow and the Moscow Region. Having completed nearly 200,000
sq. m of commercial space and 500 ha of developed master-planned
communities, today OPIN is a well-recognised brand in the domestic market,
known for the market-leading quality of the projects it delivers. Through
its property expertise and successful track record, the Company's strategic
goal is to become a platform for the consolidation of assets in the real
estate industry in Russia.
As of 30 June 2011, OPIN's total assets were US$1.86 billion comprising
predominantly of residential developments, land bank and commercial real
estate. In 2010 OPIN recorded total revenue of US$151 million and during
first six months of 2011 - US$115 million.
The Company's majority shareholder is ONEXIM Holdings Ltd, a major private
investment group in the CIS region with a diversified portfolio of assets
in mining, real estate, financial services, media, energy production and
high-tech.
In November 2004 OPIN was successfully admitted to the RTS stock exchange
and since then has carried out six secondary public offerings, raising
nearly US$2 billion.
Further details can be found on the OPIN website at www.opin.ru
End of Corporate News
---------------------------------------------------------------------
28.10.2011 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: JSC Open Investments
Tverskoy blvr, 13/1
123104 Moscow
Russia
Phone: + 7 495 363 22 11
E-mail: info@opin.ru
Internet: www.opin.ru
ISIN: RU000A0DJ9B4
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
143865 28.10.2011
EquityStory.RS, LLC-News: JSC Open Investments / Key word(s):
Miscellaneous/Miscellaneous
JSC Open Investments: JSC OPIN announces loan restructuring with
Rosbank
28.10.2011 / 07:00
---------------------------------------------------------------------
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA
JSC OPIN
ANNOUNCES LOAN RESTRUCTURING WITH ROSBANK
Joint Stock Company 'Open Investments' (JSC 'OPIN' or the 'Company')
(BLOOMBERG: RTS - OPIN.RU; MICEX - OPIN.RM), one of the leading real estate
developers in Russia, today announces about successful loan restructuring
with Rosbank.
As a result of restructuring the current interest rate of 11% decreased to
9% and the Company negotiated a more attractive repayment schedule with
over 50% of principal repayment amount postponed till 2012-2013 instead of
October 2011.
Restructuring of the Company's loan portfolio, which as of 30.06.2011
amounted to US$300 million is an important part of OPIN's new strategy. The
Company earlier this year successfully managed to achieve better terms for
loans from Raiffeisen Bank in the amount of US$36 million in May 2011 and
VTB Bank Deutschland AG in the amount of US$49 million in June 2011.
- ends -
For further information, please contact:
Investors:
Stanislav Joukov +7 495 363 2211 ext. 2388
Media:
Anna Rogova +7 495 363 2211 ext. 2513
About OPIN
Established in 2002, JSC OPIN is one of the leading real estate development
companies operating in Russia.
OPIN is focused on the development of master-planned multi-format
residential communities and the operation of high-quality commercial
properties in Moscow and the Moscow Region. Having completed nearly 200,000
sq. m of commercial space and 500 ha of developed master-planned
communities, today OPIN is a well-recognised brand in the domestic market,
known for the market-leading quality of the projects it delivers. Through
its property expertise and successful track record, the Company's strategic
goal is to become a platform for the consolidation of assets in the real
estate industry in Russia.
As of 30 June 2011, OPIN's total assets were US$1.86 billion comprising
predominantly of residential developments, land bank and commercial real
estate. In 2010 OPIN recorded total revenue of US$151 million and during
first six months of 2011 - US$115 million.
The Company's majority shareholder is ONEXIM Holdings Ltd, a major private
investment group in the CIS region with a diversified portfolio of assets
in mining, real estate, financial services, media, energy production and
high-tech.
In November 2004 OPIN was successfully admitted to the RTS stock exchange
and since then has carried out six secondary public offerings, raising
nearly US$2 billion.
Further details can be found on the OPIN website at www.opin.ru
End of Corporate News
---------------------------------------------------------------------
28.10.2011 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: JSC Open Investments
Tverskoy blvr, 13/1
123104 Moscow
Russia
Phone: + 7 495 363 22 11
E-mail: info@opin.ru
Internet: www.opin.ru
ISIN: RU000A0DJ9B4
End of News EquityStory.RS, LLC News-Service
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143865 28.10.2011