Moscow, 10 October 2007 – Deutsche Bank AG and OOO RIGroup announced today that the parties have entered into the financing agreement under which Deutsche Bank will be providing loan financing for construction of Myakininskaya Poima Class A office complex in the Moscow region being developed by RIGroup. The overall loan amount is USD 140 million (ca RUR 3.5 bn).
The first tranche of RUR 500 million was already extended. Myakininskaya Poima is an institutional quality modern Class A office complex that will consist of high quality office space with underground parking and ancillary area of retail shops, cafe, bank and conference center components. Gross leasable area of the completed complex will be 92,000 square meters. The general contractor for the project is Strabag AG.
Myakininskaya Poima office complex is located in the Krasnogorsk area, Moscow Region, 2.4km from Moscow Ring Road (MKAD) and benefits from its close proximity to important under-construction and planned office, retail, entertainment, exhibition, transport and administrative properties as well as from its excellent visibility and access.
This is one of the development financing projects that are being realized in cooperation with DB Development, the newly created JV between Deutsche Bank and Strabag.
Dmitry Kotlyarenko, General Director, RIGroup commented: "We are very pleased to be working with Deutsche Bank on this wonderful project, part of our strategy to develop leading office, retail and residential properties. The Class A towers at Myakiniskaya Poima will add value to the tenants, to the area in general and to all of our partners involved in this highly technological and innovative project. This building has a great location, offers all the amenities of a modern office complex and will serve as the hub of the Moscow regional business community for years to come.”
Yuri Soloviev, First Deputy Chairman, Deutsche Bank Ltd. in Moscow and Head of Investment Division of Deutsche Bank in Russia and CIS, said: “Financing provided to RIGroup is yet one more landmark project in Russian real estate and construction market. It is fully in line with our strategy and will further contribute to successful realization of the Bank’s strategy in this sector”.
Victor Makshantsev, Head of Russia & CIS Real Estate and Infrastructure Projects at Deutsche Bank, added: “We are delighted to be financial partner of RIGroup in that landmark institutional quality development scheme. This ambitious project in the Moscow Region is further strengthening Deutsche Bank leadership position as a major western investment bank active in the Russian real estate development market. With overall portfolio of the projects realized to date exceeding USD 2.5 billion and the current pipeline exceeding USD 3 billion we are excited about the future of the industry and are proud to be a major player in the market.”
For further information, please call:
Olga Podoinitsyna +7 (495) 797 5303
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 75,140 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients, creating exceptional value for its shareholders and people.
Deutsche Bank ranks among the global leaders in corporate banking and securities, transaction banking, asset management and private wealth management. It has a significant private and business banking franchise in Germany and other selected countries in Continental Europe.
Deutsche Bank Ltd. was established in April 1998 in Moscow and is a wholly-owned subsidiary of Deutsche Bank AG. Deutsche Bank Ltd. has become one of the leading foreign banks in Russia, providing local and international, corporate and private clients with a broad range of financial services, including corporate finance and advisory, sales, trading and transaction banking as well as private wealth management and asset management services. The Bank includes the largest Russian and multinational companies among its client base.
As of 1 July 2007, Deutsche Bank Ltd. had assets of Rb 41,552 mn and its capital was Rb 4,976 mn. Net income for the first six months of 2007 stood at Rb 51 mn (under Russian GAAP).