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Magnit OAO updates on subsidiary credit agreements


Tuesday, 12 Aug 2014 07:48am EDT 

Magnit OAO:Says that its board of directors has recommended to approve the conclusion of the agreement on opening of the revolving credit line by its wholly owned subsidiary Tander JSC (Tander) with Sberbank of Russia.Total credit limit under the credit agreement shall amount to not more than 15 billion Russian rubles.The credit shall be provided for the maximum of three years and interest rate for the credit use including charges amounts to not more than 12 percent per annum.Also recommends to approve the conclusion of the additional agreement to the credit agreement of Sep. 30, 2010 with Bank of Moscow.Maximum indebtedness of Tander under one-time credits provided within the terms of the credit agreement, shall amount to not more than 16 billion rubles.Credits within the terms of the credit agreement shall be provided for the maximum of 90 days.Upon determination of the deadline of repayment of each credit, the whole indebtedness under credits, provided within the terms of the credit agreement, shall be repaid in full not later than April 30, 2016.Interest rate for the credit use including charges amounts to not more than 14 percent per annum. 

Company Quote

12440.0
-1.0 -0.01%
4:15am EDT