OREANDA-NEWS. Lenta Ltd. ("Lenta" or the "Company"), one of the largest retail chains in Russia, today announces the improvement of the terms and conditions under the loan agreement with VTB Capital.

Lenta LLC (a main operating subsidiary of Lenta Ltd) has significantly improved terms and conditions of the facility agreement with VTB Capital. Lenta LLC as a borrower entered into a long-term, Rouble-denominated credit facility with VTB Capital in September 2011, which was further amended and restated in January 2013 and April 2013. The facility in the total amount of RUB 40.375 billion, of which RUB 33.075 billion is currently outstanding, is due 2018-2019.

According to the amendment agreement, the margins over MosPrime 3M for all tranches will be reduced, pledge of shares of legal entities under Lenta Ltd. will be released and guarantees in favor of VTB Capital issued by legal entities under Lenta Ltd. will be terminated. In addition, availability period for the undrawn part of the VTB facility of RUB 7.3 billion has been extended to October 2015. The parties have also agreed to increase threshold for financial covenant (Net Debt to EBITDA).