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April 7, 2013
14:52 EDTCEDCCEDC obtains commitment for $100M unsecured facility for Russian operations
CEDC approved the terms of a new $100M unsecured credit facility, to be provided by an affiliate of Alfa Bank, for the benefit of CEDC's Russian operations. The facility was arranged for CEDC by its strategic partner, Roust Trading, which will pay the origination and other fees involved. The financial restructuring, which will eliminate approximately $665.2M in debt from CEDC's and CEDC FinCo's balance sheets, does not involve the company's operating subsidiaries in Poland, Russia, Ukraine or Hungary and should have no impact on their business operations. Operations in these countries are independently funded and will continue to generate revenue during this process. All obligations to employees, vendors, credit support providers and government authorities will be honored in the ordinary course without interruption.
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