OREANDA-NEWS. August 31, 2012. VTB Group has signed a RUB 9 billion 3.5-year credit facility agreement with X5 Retail Group N.V., Russia's largest retailer by revenue, to refinance the company’s current short-term debt. The new facility will help X5 Retail Group to diversify its current debt structure, reported the press-centre of VTB.

X5 Retail Group has been a VTB Bank client since 2008, utilizing a full range of banking products and services including short-term lending, settlement and cash services and collection services for its retail stores.

Yuri Soloviev, First Deputy President and Chairman of the VTB Bank Management Board, said: “VTB Group has a long partnership with X5 Retail Group, and this loan further underscores the strength of our relationship with Russia's largest retailer”.