Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

IMMOFINANZ, Russian Sberbank End Long-term Financing Deal - Quick Facts

Immofinanz AG (IMMZF.PK) and the Russian Sberbank have concluded a long-term financing agreement with a volume of up to $715 million. This ten-year loan would be used by the project development company, above all to repay the development financing provided by the parent company for the Golden Babylon Rostokino shopping center.

'The funds released by this loan would be used to continue its growth course and to realise new development projects, especially in the East European markets where double-digit yields can be generated', commented Eduard Zehetner, Chairman of the Executive Board of IMMOFINANZ Group.

Click here to receive FREE breaking news email alerts for Immofinanz Ag and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Nike Inc., the world's largest athletic shoes and apparel maker, said Thursday after the markets closed that its second quarter profit rose 23% from last year, helped by higher revenue and improved gross margin. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. Citing extreme fluctuation of the ruble, Apple Inc. (AAPL) has reportedly discontinued its online sales of products in Russia. Despite efforts of the Russian central bank, the ruble has been spiraling downward, with oil prices plunging to historic levels. The ruble shed around 19 percent on Wednesday.... General Motors said it has halted the delivery of cars to dealerships in Russia as it strives to overcome the business risks stemming from the collapse of the ruble.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.