Russia's Pyaterochka plans to establish $800 million syndicated facility

By Reshmi Basu

New York, May 31 - Russian grocery retailer Pyaterochka Holding NV said it has plans to establish a syndicated term loan credit facility in the amount of $800 million to be used toward the company's recent merger with Perekrestok Holdings Ltd.

The facility is comprised of a $300 million three-year tranche, which will be used for acquisition purposes, a $150 million three-year tranche, which will be used to refinance existing debt with amortizing repayments, and finally a $350 million three-year tranche with a bullet repayment to finance the future development of the retail chain.

ABN Amro Bank NV, HSBC Bank plc, Raiffeisen Zentralbank Österreich AG and ZAO Raiffeisenbank Austria and WestLB AG, London Branch are the lead arrangers for the Moscow-based company.

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