Press-release
Krasnodar
August 18, 2014
OJSC "Magnit" Announces the Execution of the Related Party Transaction
Krasnodar, August 18, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of the
transaction on August 15, 2014.
The essentials of the transaction are as follows:
Type of transaction: Major related party transaction
Subject of Provision by the Issuer of the guarantee underthe A
transaction: greement №29-15/1/496 on the opening of the revolving
credit lineas of August15, 2014, executed between JSC
"Tander" and Open joint-stock company "Sberbank of Russia"
(OJSC "Sberbank of Russia")
Content of the In accordance with the guarantee agreement №29-15/1/496 n1
transaction: as of August15, 2014the guarantor shall be solidarily
liable to the creditor for the fulfillment of obligations
of the borrower under the credit agreement executed on the
following terms:
* The creditline limit: 15,000 ,000,000 (fifteenbillion)
rubles
* The granted term of the credit is until August13 , 2017
* The borrower shall pay the interest on credit to the
creditor at the rate determined by the credit
agreement but not exceeding 12% per annum
Deadline for the The term of validity of the guarantee- until August13, 20
fulfillment of the 20; prior to the specified term the guarantee is
obligation: terminatedupon fulfillment of all obligations under the
Credit agreement by the Borrower, or upon fulfillment of
obligations under the Agreement by the Guarantor or to the
extent otherwise stipulated by the legislation of the
Russian Federation
Parties and The creditor - open joint-stock company "Sberbank of
beneficiaries under Russia" (OJSC "Sberbank of Russia")
transaction:
The guarantor - open joint-stock company "Magnit"
The borrower (beneficiary) -joint-stock company "Tander"
The amount of the 20,395, 068,493(twenty billion threehundred and ninety
transaction in the fivemillionsixty eight thousand four hundred and ninety
monetary value and three) rubles which amounts to 28.98% of the balance sheet
as a % of the asset assets of the issuer
value of the issuer:
Asset value of the 70,383, 864thousand rubles
issuer as of the
closing date of the
accounting period
preceding the
execution of the
transaction:
Date of the August15, 2014
transaction
execution:
Information on the The transaction was approved by the general shareholders
approval of the meetingof May 29, 2014(Minutes of the general shareholders
transaction: meetingof OJSC "Magnit" w/o No. of May 30, 2014)
For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is
headquartered in the southern Russian city of Krasnodar. As of June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 cities
and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements for 2013,
Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.
Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and
its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating
from Standard & Poor's of BB. Measured by market capitalization, Magnit is one
of the largest retailers in Europe.