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MDM Bank increased the limit on the loan "Obuv Rossii"
15.05.2014 2825

MDM Bank increased the limit on the loan "Obuv Rossii"

MDM Bank and the Obuv Rossii retailer signed an agreement to increase the limit on the existing credit line to 500 million rubles from 300 million rubles.

The credit line for two years was opened in August 2013. It is assumed that the funds raised will be used to finance the development program of the Obuv Rossii retail network and replenish working capital. According to its investment program, the retailer plans to open 120 stores this year, investing 1,5 billion rubles.

As reported, in 2013 the company also attracted loans to Raiffeisenbank (also for 500 million rubles), Nomos-Bank (300 million rubles), Bank Intesa (150 million rubles), Bank International Financial Club (500 million rubles), Alfa-Bank (400 million rubles), Bank Globex (300 million rubles) and VTB (500 million rubles). "Obuv Rossii" develops the directions of shoe retail, shoe production, wholesale trade and franchising. The head office and production (with a capacity of 350 thousand pairs of shoes per year) are located in Novosibirsk.

Today the company's network includes more than 300 stores in 90 cities of Russia. The retailer's revenue at the end of last year amounted to 4,915 billion rubles, which is 1,4 times more than a year earlier.

In 2014 Obuv Rossii plans to increase the number of stores to 400, and its revenue to 7 billion rubles.

MDM Bank and the Obuv Rossii retailer signed an agreement to increase the limit on the existing credit line to 500 million rubles from 300 million rubles.
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