PIK Group Informs Regarding Loan Portfolio Restructuring
OREANDA-NEWS. January 11, 2010. PIK (LSE: PIK) informs of fulfillment of all conditions required for completion of loan portfolio restructuring and the receipt of the new financing in Sberbank of RF in the amount of RUB 12,75 bn.
In particular, PIK Group received state guarantees for the total amount of RUB 14,375 bn and signed Debt Restructuring Agreements with main creditors, including VTB, Rosbank, Absolutbank.
Some of the information in this press release may contain projections or other forward looking statements regarding future events or the future financial performance of PIK. You can identify forward-looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. PIK does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in PIK’s projections or forward-looking statements, including, among others, general economic conditions, PIK’s competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to PIK and its operations.