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. Last Updated: 07/27/2016

PIK's Debt Restructuring

PIK Group said Wednesday that Sberbank agreed to restructure its 14 billion rubles ($470 million) of debt.

Sberbank agreed to extend the loan by five years, including a grace period of 2 1/2 years, PIK said in a statement. Sberbank also agreed to lend PIK another 12.75 billion rubles, subject to a state guarantee. (Bloomberg)