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X5 Gets $282M Loan

The country's largest food retailer by sales, X5, said it has secured a 9 billion ruble ($282.54 million) loan for 3.5 years from VTB Capital, X5 said on Tuesday.

"The new VTB facility will diversify and improve X5's current debt structure, extending the maturity schedule of the company's debt portfolio to 2016 and reducing short-term debt to less than 30 percent of X5's total debt," the company said in a statement.

X5 also added that the new loan will not increase the company's total debt.

(Reuters)

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