OREANDA-NEWS. July 09, 2010. Dixy Group – one of the leading food retailers in the Russian Federation - announces senior unsecured RUB 6,145,340,000 (USD 200 mln. equivalent) term loan facility for 4 years raised from an international banks’ consortium.

On June 22, 2010, Dixy Group signed a syndicated facility agreement of RUB 6,145,340,000 (USD 200 mln. equivalent) with a group of international banks with ING Bank N.V., ZAO UniCredit Bank, ZAO Raiffeisenbank acting as Mandated Lead Arrangers, OJSC “Nordea Bank” acting as Arranger and ING Bank N.V., London Branch acting as Facility Agent.

Rouble equivalent of USD 135 mln. (first tranche) disbursed on June 28, 2010, was used to refinance the syndicated loan attracted in 2008. Dixy plans to draw down the remaining part of the credit facility till the end of 2010 to finance Company’s operations and further expansion.

The syndicated loan is granted for 4 years (maturing on June 22, 2014) and is to be repaid by 6 quarterly instalments after a 33 months grace period.

The interest rate amounts to the sum of MosPrime for a relevant 1, 3 or 6 month interest period and 4-4.5% p.a. margin depending on the Company’s Total Debt / EBITDA ratio.