Absolut Bank opened a non-revolving credit line in the amount of RUB 500 million to Obuv Rossii Group of Companies. and for a period of 540 days. The funds raised will be used to develop the main line of business of Obuv Rossii - retail trade in footwear and related goods - and to implement the investment program for 2014-2015. This year, the retailer also received access to credit lines from VTB, Globex, Raiffeisenbank and Banca Intesa for a total amount of 2,25 billion rubles.
In early September, Obuv Rossii placed a bond issue worth 1 billion rubles on the Moscow Stock Exchange. for a period of five years. The company also plans to place bonds worth 5 billion rubles. Since the beginning of the year Obuv Rossii has opened 116 stores, and by the end of the year it is planned to launch another 27 points. In 2014, the group launched a new shoe brand All.go, launched the Emilia Estra shoe chain and the Snow Guard outerwear chain, and completed an M&A deal by purchasing Rossita (Rossita and Lisette chains, 83 stores in total).