PJSC "Magnit" Announces the Execution of the Related Party Transaction
Type of transaction: related party transaction. |
Subject of transaction: Provision by the Issuer of the guarantee under the Сredit agreement No.01CC5L on opening of the revolving credit line in Russian rubles of January 12, 2015 (hereinafter - "the Credit agreement") executed between Joint Stock Company "ALFA-BANK" (hereinafter - "the Creditor") and JSC "Tander" (hereinafter - "the Borrower"). |
Content of transaction: |
In accordance with the guarantee agreement the Guarantor shall be jointly liable to the Creditor for the proper fulfillment of obligations by the Borrower under the Credit agreement executed on the following essentials:
The Guarantor shall be fully liable to the Creditor for the non-fulfillment or improper fulfillment of obligations by the Borrower under the Credit agreement, including the principal amount of debt, interest and penalty. The guarantee agreement shall secure the fulfillment of obligations by the Borrower in case of invalidity of the Credit agreement, fixed by the valid judgment, on repayment of monetary funds received by the Borrower for the benefit of the Creditor, and on payment of interest for the use of another's monetary funds charged on the amounts received by the Borrower. |
Deadline for the fulfillment of the obligation: The guarantee terminates in 1 (One) year from the date of closing of the Credit line or upon the termination of the secured obligations. |
Parties and beneficiaries under transaction: The creditor - Joint Stock Company "ALFA-BANK" The guarantor - Public Joint Stock Company "Magnit" The borrower (beneficiary) - Joint Stock Company "Tander" |
The amount of the transaction in the monetary value and as a % of the asset value of the issuer: 5,798,904,110.00 rubles which amounts to 5.1751% of the balance sheet assets of the issuer |
Asset value of the issuer as of the closing date of the accounting period preceding the execution of the transaction: 112,040,106 thousand rubles |
Date of the transaction execution: January 11, 2016 |
Information on the approval of the transaction: The transaction was approved by the General Shareholders Meeting of December 22, 2015 (the minutes of the EGM of PJSC "Magnit" w/o No. of December 24, 2015). |
Timothy Post | Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
Investor Relations Office | MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: http://ir.magnit.com/ |
Media Inquiries | Media Relations Department press@magnit.ru |
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Magnit OAO issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 14:53:05 UTC
Original Document: http://ir.magnit.com/wp-content/uploads/2014/08/Press-release-Transaction-Jan11-eng.pdf