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05.07.05

EBRD and RZB Group lending€65 million for St. Petersburg shopping centre

The European Bank for Reconstruction and Development (EBRD) and the RZBGroup have agreed to lend a total of€ 65 million to finance a state-of-the-art shopping centre in St. Petersburg. It will be developed by France''s Vinci Construction Grands Projets SA with the aim of attracting high quality international retailers to Russia''s second-largest city. The EBRD is the lender ofrecord for € 48.75 million, whereas Raiffeisen Zentralbank ?sterreich AG (RZB), Vienna, is participating with € 16.25 million under an EBRD A/B loan structure. The remainder of € 16.25 million is provided by ZAO Raiffeisenbank Austria, Russia, as parallel loan.

The EBRD’s 10-year loan will be disbursed on completion of this turn-key project, expected in the autumn of 2006. The shopping centre is to be built in an urban district just off one of the city’s main thoroughfares, half-way between the city centre and St.Petersburg’s Pulkovo airport in an area already well served by public transport. The centre, covering 72,000 square meters of shops, will include a hypermarket, DIY store and multiplex cinema, as well as a large shopping mall and parking for 3,500 cars. The project is expected to set marketstandards and stimulate competition in the city’s fast-growing retail sector.

The legal borrower is Ralmir Holding BV, incorporated in the Netherlandsand representing a group of international investors who have committedto buying the completed project from Vinci. All the EBRD and RZB Groupfunds will be disbursed in Russia.

ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International). Raiffeisen International isa fully consolidated subsidiary of Raiffeisen Zentralbank ?sterreich AG(RZB), which owns 70 per cent of the common stock. The remaining 30 percent is free float including the shares of the International FinanceCorporation (IFC) and the European Bank for Reconstruction andDevelopment (EBRD), which own about 3 per cent each of the capitalstock. Raiffeisen International''s shares are traded on the Vienna StockExchange. Raiffeisen International is the steering company for 15subsidiary banks and 14 leasing units with more than 900 outlets inCentral and Eastern Europe (CEE). RZB-Austria is the central institutionof the Austrian Raiffeisen Banking Group, the country''s most powerfulbanking group.

The EBRD, owned by 60 governments and two intergovernmentalinstitutions, aims to foster the transition from centrally planned tomarket economies in central and eastern Europe and the Commonwealth ofIndependent States.

For further information please contact Michael Palzer (+431-71707-1504,michael.palzer@rzb.at) or Martin Schreiber (+431-71707-1562,martin.schreiber@rzb.at). http://www.rzb.at, http://www.ri.co.at,http://www.raiffeisen.ru, http://ebrd.com

 

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