MOSCOW, June 2 (RIA Novosti) - Pyaterochka Holding N.V. (LSE: FIVE) will take out an $800-million syndicated loan to finance its merger with Perekryostok, the Russian discount retailer said Friday.
Pyaterochka said in a news release that Austria's Reiffeisebank would help it secure the three-year loan, to be disbursed in three tranches of $300 million, $150 million, and $350 million, respectively.
The loan's other organizers will be Raiffeisen Zentralbank Osterreich AG, ABN AMRO Bank N.V., HSBC Bank plc, and WestLB AG, London Branch.
Pyaterochka is Russia's largest supermarket chain, with more than 370 outlets in Moscow, St. Petersburg and the Urals city of Yekaterinburg. In mid-May, it finalized a merger deal with Perekryostok, which operates 147 supermarkets and discounters across 14 Russian regions and Ukraine.
