OREANDA-NEWS. Dixy Group has signed a 58.8 mln US dollars facility loan agreement with LLC HSBC bank (a branch of HSBC Bank plc) for a period of 3 years. The loan can be used during 6 months after the date of signing, the company's press service announced. The repayment date is October 8, 2010. Having gotten the loan the Company intends to refund current short-term loan facilities and to finance new projects. The executed successful projects of debt financing accompanied by the improvement of the credit terms represent strong financial position of the Company and its reputation as a secure borrower.

Dixy Group is one of the leaders of Russian food retail market. The first Dixy's store was opened in 1999 in Moscow city and by September 1, 2007 the Group has already operated 363 stores, including 349 Dixy (discounter) stores, 7 Megamart (compact hypermarkets) and 7 Minimart (supermarkets) stores in three Federal Districts of Russia. Groups consolidated revenue in 2006 was $1,009 mln.

The HSBC Group is one of the largest banking and financial services organisations in the world. In Russia, the Group operates through OOO HSBC Bank, a subsidiary of HSBC Bank plc. HSBC provides a wide range of corporate banking, investment banking and financial markets products and services to multinational and domestic corporate and institutional customers in Russia.