Dixy Group to raise USD200 million

Russia-based Dixy Group plans to raise up to USD200 million in loans from a group of banks to refinance debt. Fyodor Rybasov, Vice President of Dixy Group, said the firm planned to borrow from a group of lenders including ING, UniCredit, Raiffeisenbank and Banque Societe Generale Vostok. Dixy Group has to pay down a USD135 million syndicated loan in late June this year and has around RUB650 million roubles (USD21.7 million) of other short-term debt. It also has RUB3 billion (USD100 million) of outstanding bonds due in 2011.

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