January 18, 2018 / 11:53 AM / 4 months ago

BRIEF-Afi Development Plc: Loan Restructuring Agreement Reached With VTB Bank

Jan 18 (Reuters) - AFI Development Plc:

* SAYS REACHED AN AGREEMENT TO RESTRUCTURE ITS LOAN AGREEMENTS WITH VTB BANK

* IT IS AGREED THAT COMPANY UNIT BELLGATE CONSTRUCTIONS LIMITED SIGNS A NEW LOAN FACILITY AGREEMENT

* NEW LOAN WILL BE USED TO REFINANCE EXISTING BELLGATE LOAN FROM VTB AND TO REPAY ITS LOAN FROM AFI DEVELOPMENT

* BELLGATE WILL RECEIVE NEW LOAN IN FIVE TRANCHES, BLENDED INTEREST RATE ON NEW LOAN IS CIRCA 5.6%

* BELLGATE WILL HAVE LOAN OBLIGATIONS IN RUSSIAN ROUBLES OF A MAXIMUM AMOUNT OF RUB 9.6 BILLION AND IN EUROS IN THE EQUIVALENT OF $360 MILLION Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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