SADOVAYA (SGR): LOAN AGREEMENT WITH EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT - raport 39

Raport bieżący nr 39/2011
Podstawa prawna:

Inne uregulowania

Sadovaya Group S.A., a joint stock company under Luxembourg law, with registered office at

412F, route d’Esch, L-2086 Luxembourg, registered in the Luxembourg Register of

Companies under No. B 153.489, (the "Company"), hereby informs that

on 29 December 2011 the Board of Directors of Sadovaya Group SA approved the conclusion

of the loan agreement between its affiliate "Product Company Interdon" Limited Liability

Company and European Bank for Reconstruction and Development (EBRD) in the amount of

USD 36 mn (thirty six million US dollars) with the annual interest rate 6.5% over 3 months

Libor and with complete repayment over 7 years in order to finance the development of

Group’s waste coal reprocessing business.

On 30 December 2011 the Group subsidiary "Product Company Interdon" LLC entered into

the loan agreement with EBRD. First tranche in the amount of USD 18 mn is scheduled to be

available for drawdown in February 2012 and is subject to completion of security agreements

and other conditions precedent to financing.

The first stage of the project implies construction of two waste reprocessing facilities. The

first factory is to be put into operation in 2Q2012, the second - in 4Q2012. The proposed

project has a number of environmental and social benefits including: processing of waste

material, reduced emissions of greenhouse gases, smaller stockpiles with associated visual

landscaping improvements and social-economic benefits in terms of job creation and a local

economic stimulus.

For additional information regarding the project please follow the EBRD official project page

at http://www.ebrd.com/russian/pages/project/psd/2011/42621.shtml

Legal grounds: article 56.1 in connection with article 56.6 of the Act of 29 July 2005 on the

public offering, conditions governing the introduction of financial instruments to organised

trading system and on public companies.
Viktor Chornogor - Internal auditor