GLOBEXBANK increased lending limit for Obuv Rossii GC
GLOBEXBANK opened a revolving credit line to the Obuv Rossii group of companies in the amount of RUB 300 million for a period of 18 months. Credit resources were provided to replenish working capital and finance the main direction of Obuv Rossii - expanding the retail network selling footwear and accessories. Earlier, in May 2012, GLOBEXBANK has already opened a credit line for Obuv Rossii in the amount of 300 million rubles for a period of 2 years. Thus, the total volume of credit resources available to Obuv Rossii Group of Companies in GLOBEXBANK has doubled and currently amounts to 600 million rubles.
“We are pleased to expand our cooperation with GLOBEXBANK, which is one of the Group's main financial partners,” comments Anton Titov, Director of Obuv Rossii Group. “The bank is actively involved in lending to leading companies in various sectors of the economy,” notes Vasily Ozheredov, manager of the Novosibirsk branch of GLOBEXBANK. - Obuv Rossii is dynamically developing and is one of the five largest footwear companies. The funds raised by our bank will help support the implementation of the Group's long-term plans. ”
According to Discovery Research Group (September 2013), Obuv Rossii is the leader in the mid-price segment of the Russian footwear market in terms of the number of stores. For 9 months of 2013 Obuv Rossii opened more than 75 stores and entered 27 new cities, investing about 1 billion rubles in the development of the network. At the beginning of October, the Group's footwear network consisted of more than 250 stores in more than 80 cities. The company's revenue in the 1st half of the year increased by 87% compared to the same period in 2012 and amounted to 1,95 billion rubles, profit increased 2,6 times and amounted to 203 million rubles, EBITDA margin - 17,3%.
GLOBEXBANK opened a revolving credit line to the Obuv Rossii group of companies in the amount of 300 million rubles for a period of 18 months. Credit resources are provided to replenish working capital and ...
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