OREANDA-NEWS. HMS Group (LSE: HMSG), the leading pump and compressor manufacturer as well as a provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS, announces today that is has significantly reduced its debt level and secured a 3-year loan facility of Rub 1.2 billion from UniCredit Bank.

HMS Group decreased its total debt* to Rub 12.4 billion by the end of 2013, from Rub 16.2 billion on October 1, 2013, as a result of working capital optimization through the receipt of advances under new signed contracts, payments under executed projects as well as optimization of receivables and inventories.

The loan from UniCredit Bank will be utilized to refinance the existing credits with repayment in 2014, making a debt repayment schedule more comfortable, that is in line with HMS' financial strategy.