OREANDA-NEWS. JSC “The Seventh Continent” (further referred to as the Company) has repaid to Dresdner Bank AG London Branch USD 31.8 mn. of the rest of the principal loan amount.

The 2-year facility in the total amount of USD 90 mn. with interest rate of 7.25% per annum was acquired in September 2005. On 27 th of September 2006 the Company has repaid the first part of principal loan in the amount of USD 58.2 mn.

On July 31, 2007 the Company has signed the USD 36 mn. facility Loan agreement with the Black Sea Trade and Development Bank (BSTDB) with 3-years maturity. The Loan terms include semi-annual interest periods and the grace period. The interest rate is established as 6-month LIBOR + 1.5%.

Earlier this year, on June 21, 2007 the Company successfully placed 5-year bonds (02 series, registration number 4-02-00462-H dated 26.12.2006), raising RUB7 bn.