OREANDA-NEWS. On 04 February 2009 was announced, that on February 3rd, 2009 JSC “The Seventh Continent” (further referred to as the Company), fully repaid the loan to VTB Bank in accordance with the terms of the loan agreement. Total amount of payment comprised USD 500 mn. rubles.

On November 5th the Company attracted the loan in the frames of credit line that was established by VTB Bank in the amount of 2.5 bn. rub. Raised funds were used for the Company’s operational activities.

Sustaining of the optimal debt level is one of the major goals of the Company’s financial policy. The key financial project for the Company in the current year would be execution of the put option on June 23, 2009 on the 7 bn. Rubles bond. The bonds were successfully placed on June 21, 2007, raising 7 bln. rubles on the MICEX.  The Company considers different opportunities to execute the put option including refinancing with the loan from commercial banks, issuance of new financial instruments, the possibility of conversion of the bonds into the Company’s preferred stocks.