Mall of Russia Loan Deal

AFI Development, Israeli billionaire Lev Leviev’s property developer, said Monday that it won a two-year extension at a lower interest rate on a ruble loan from VTB Group for its Mall of Russia project in Moscow.

The repayment term on the 8.45 billion ruble ($280 million) credit line was extended to August 2013, and the rate was cut to 13.25 percent a year from 16 percent, AFI said. 

(Bloomberg)


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