OREANDA-NEWS. PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, announces that in line with the Group's debt reduction and optimization strategy it has paid down a total of RUB 3.8 billion of loans ahead of schedule.

The prepayments were made to the following lenders:

Sberbank - partial prepayment of RUB 1.5 bn

Nomos Bank - partial prepayment of RUB 1.1 bn

Rosbank - full prepayment of USD 35.5 million (equivalent to RUB 1.2 bn)

Following the prepayments PIK Group's consolidated debt is equivalent to RUB 25.5 bn (including accrued interest).

About PIK Group

PIK Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 14 million square meters of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.5 million square meters and a dedicated professional team with over 11,000 employees.