JSC Open Investments
JSC Open Investments: JSC OPIN announces loan restructuring with Rosbank
JSC Open Investments / Key word(s): Miscellaneous/Miscellaneous 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: Media: 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 |