Support The Moscow Times!

PIK Reduces Debt by $30M

Development company PIK Group paid off 900 million rubles ($30 million) of loans it raised from Nomura, Morgan Stanley and Rosbank ahead of schedule, according to a company statement.

PIK's total debt is now at 40.7 billion rubles. Net debt had declined 13.5 percent to 37.1 billion rubles in 2012, VTB Capital said in its analytical report following a meeting with PIK management, Interfax reported.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more