Credit facility agreement of USD 427 500 000 has been signed between Jaitai Holdings Limited, Nordea Bank AB and JSB “ORGRESBANK”

09.11.2007

Credit facility agreement of USD 427 500 000 has been signed between Jaitai Holdings Limited, Nordea Bank AB and JSB “ORGRESBANK”

JSB “ORGRESBANK” and Nordea Bank AB have signed a Credit Facility Agreement of USD 427 500 000 for Jaitai Holdings Limited, Cyprus, affiliated with OOO Manezhnaya Square – the owner of Manezhnaya Square Shopping Center.

The purpose of the facility is partial financing of the controlling stake acquisition in JSC The Seventh Continent, the retailer, and refinancing of other banks’ loans.  The tenor is three years, the deal is secured with the premises and shares of Manezhnaya Square Shopping Center. 

According to Mikhail Polyakov, Deputy Chairman of the Management Board, the participation in the deal is indicative of the Bank’s and Nordea’s serious interest in the growth of business with large Russian companies in multiple industries. This deal provides the great potential for the future growth of business with OOO Manezhnaya Square and JSC The Seventh Continent.

 

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