LONDON (Alliance News) - Russian real estate developer PIK Group said Monday that it had paid down RU3.8 billion of its loans ahead of schedule under its strategy to reduce its debt.
The company fully repaid its loan with Rosbank of RUB1.2 billion, as well as partial repayments of its loans with Sberbank and Nomos Bank of EUB1.5 billion and RUB1.1 billion, respectively.
The company said that its consolidated debt is now RUB25.5 billion.
PIK's GDR's last traded at USD2.28, up 0.7%, Monday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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