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.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.