OREANDA-NEWS. On 02 February 2009 was announced, that JSC “The Seventh Continent” (further referred to as the Company), fully made payment of principal loan to Black Sea Trade and Development Bank (BSTDB). Total amount of payment comprised USD 5.4 mn.

The payment of principal loan was made according to approved repayment schedule of loan terms. Contemporaneously the Company made interest payment on above stated loan in the amount of USD 858.6  th., the interest rate was set at 4.61625%.

On July 31, 2007, the Company has concluded 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%.