OREANDA-NEWS. December 22, 2010. LSR Group (LSE: LSRG; MICEX, RTS: LSRG) and Bank VTB North-West have signed an agreement to open a loan facility worth RUB 5 billion, reported the press-centre of LSR Group.

The new loan facility will substitute the existing loan facility of EUR113.9 million by RBS (formerly ABN AMRO) and HSBC, obtained in March 2008, for cement production equipment.

The final redemption date for the new loan facility - December 2017 - is in fact equal to the one of RBS/HSBS loan.

Elena Tumanova, CFO of LSR Group, comments:
“The replacement of the RBS/HSBC loan facility with the new rouble-nominated loan from VTB North-West is the important step towards the reduction of our currency risks. In the near future we will continue our work to attract long-term financing nominated in roubles to replace our debt nominated in foreign currency.”