Press-release
Krasnodar
June 24, 2014
OJSC "Magnit" Announces the Execution of the Related Party Transaction
Krasnodar, June 24, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of the
transaction on June 23, 2014.
The essentials of the transaction are as follows:
Type of transaction: Related party transaction
Subject of Provision by the Issuer of the guarantee underthe
transaction: revolvingcredit line agreement №KRD/RK/003/14as of June23,
2014, executed between JSC "Tander" and OJSC JSCB "ROSBANK
"
Content of the In accordance with the guarantee agreement №KRD/PR/052/14
transaction: as of June23, 2014the Guarantor shall be gratuitously
liable to the Creditorto the extent provided by this
Agreement for the performance of obligationsbythe Borrower
under the Revolving credit line agreement №KRD/RK/003/14,
executed between the Borrower and the Creditor in
Krasnodar as of June 23, 2014,on the following terms:
* The creditamount : 3,400, 000,000 (threebillion four
hundred million)rubles
* The granted term of the credit is until July22, 2015
(inclusive)
* The Borrower shall pay the interest on credit to the C
reditor at the rate determined by the Revolving credit
line agreement but not exceeding 12% per annum
* The liability of the Guarantorfor the performance of
all obligationsby the Borrowerunder the Credit a
greement shall belimited to the amount of 3,40
0,000,000.00 (threebillion four hundred million)
rubles
* The guaranteeterminates upon the proper performance of
obligations by the Borrower under the Credit Agreement
or the unilateral change of the Credit Agreement
essentials increasing the liability of theGuarantor
Deadline for the July 22, 2015 (credit maturity)
fulfillment of the
obligations:
Parties and The creditor - OJSC JSCB "ROSBANK"
beneficiaries under
transaction: The guarantor - open joint-stock company "Magnit"
The borrower (beneficiary) -joint-stock company "Tander"
The amount of the 3,400, 000,000rubles which amounts to 4.16% of the balance
transaction in the sheet assets of the issueras of December 31, 2013
monetary value and
as a % of the asset
value of the issuer:
Asset value of the 88,717, 075thousand rubles(as of December 31, 2013)
issuer as of the
closing date of the
accounting period
preceding the
execution of the
transaction:
Date of the June23, 2014
transaction
execution:
Information on the The transaction was approved by the General shareholders
approval of the meetingof May 29, 2014(Minutes of the general shareholders
transaction: meeting of OJSC "Magnit" w/o No. of May 29, 2014)
For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of March 31, 2014,
Magnit operated 23 distribution centers and over 8,200 stores (7,341
convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities and
towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.
Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: 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.