OREANDA-NEWS. OJSC "Magnit", Russia's largest food retailer, announces the execution of the transaction on September 24, 2014.

Please be informed that on September 24, 2014 OJSC "Magnit" (the Lender) and JSC "Tander" (the Borrower) executed the related party transaction, according to which the Lender provides the loan of funds to the Borrower which is to be repaid by the Borrower within the period determined by the contract. The repayment of the loan and (or) the interest may be effected by the Borrower in advance, without written notice to the Lender of the loan repayment, by means of transfer of the loan to the bank details specified in the contract or otherwise not contradictory to the Civil Code of the Russian Federation (offset of mutual claims, assignment of a claim, etc.).

The essentials of the transaction are as follows:
Type of transaction: related party transaction
Subject of transaction: loan of funds
Parties and beneficiaries under transaction: the Lender - open joint-stock company "Magnit"
the Borrower - joint-stock company "Tander"
Maturity: loan maturity date - 22.09.2017
Transaction amount: 10,000,000,000.00 rubles, which amounts to 14.21% of the balance sheet value of assets of the issuer
Interest rate 11.45% per annum
The assets value of the issuer as of the closing date of the reporting period preceding the transaction execution and in respect of which the deadline for filing the accounting (financial) report has passed: 70,383,864 thousand rubles
The transaction was approved by the annual general shareholders meeting on May 29, 2014 (minutes of the annual general shareholders meeting of OJSC "Magnit of May 30, 2014).