LenSpetsSMU covered the 1st tranche in the volume of 8.5mln euro on the credit line released by Alfa Bank, the company informed.
To realize the project the Company together with Budostal-3 Export and Alfa Bank at the participation of the German banks and Poland-based KUKE S.A.
signed an import-export funding deal as the first in Russia.
The total volume of the credit line reached 39mln euro. The coverage stipulates 4 stages.
The Company reached an agreement with Alfa Bank and German banks consortium on the transfer to the fixed credit rate at the payment of the last tranche in July 2014.
LenSpetsSMU (LSS, TIN 7802084569) is a vertically integrated building company set up in 1987 and operating in St.Pb., mainly.
The major beneficiaries involve private persons keeping 68.3% in the Holding providing control over the above Company (99.9%). The minority involve top managers of LSS. In 2008 15% in the Holding were acquired by Baring Vostok Capital Partners (BVCP). The share capital is equal to 2.1bn rub.
The portfolio includes above 60 objects of 2.33mln m2 which is sufficient for the operation till 2014.
The IH 2012 moved up (IAS) 31.1% to 2.519bn rub. from 1.922bn rub. prior year period; revenues - 52.4% to 10.788bn rub. from 7.081bn rub.; EBITDA - 30.5% to 3.187bn rub. from 2.442bn rub.; EBITDA margin dropped to 29.5% from 34.5%.
The 9-month net profit (RAS) rose 11.6% to gain 3.366bn rub. from 3.017bn rub. prior year period; revenues lost 23.5% to 10.149bn rub. from 13.269bn rub.