23.08.2011

Caspian Energy Group and AKB Investorgbank made agreement about debt restructuring

Caspian Energy Group and AKB Investorgbank signed agreement about debt restructuring of the Group companies due to three credit agreements signed in 2010.


Restructuring plan approved by bank credit committee implies prolongation of agreement effective term up to 3 years and other measures for optimization of debt load. The agreement contains detailed conditions of debt financial restructuring in amount over 1 bln RUB. Complete debt redemption should be done by August 2014 года.


As explained by General Director of Caspian Energy Group Dmitry Sapov, "decision about restructuring of debt to general financial bank will decrease negative consequences of difficult market situation and will become an important factor for further company development".


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