Loans from Sberbank and VTB


 

TIDMINTE TIDM73DK 
 
RNS Number : 1207K 
Integra Group 
13 April 2010 
 

 
 
Moscow, April 13, 2010 
 
               Integra Group receives loans from Sberbank and VTB 
 
Integra Group (LSE:INTE), a leading independent provider of onshore oilfield 
services and manufacturer of oilfield services equipment, receives a three year 
RR 2.46 bn (US$84.9 million) loan from Sberbank. 
 
These funds will be used for full prepayment of the remaining balance of the 
European Bank for Reconstruction and Development ("EBRD") loan. These 
refinancing terms provide for a significantly reduced collateral package and 
remove a number of restrictive covenants related to additional borrowings, 
investments and disposals. 
 
In addition, Integra Group signed an agreement with VTB Bank (Deutschland) AG 
for a two year unsecured revolving line of credit of US$40 million.The proceeds 
are expected to be used for general corporate purposes including prepayment of 
some other short term credit facilities. 
 
About Integra Group: 
 
Integra Group is a leading independent diversified provider of onshore oilfield 
services and manufacturer of drilling rigs with heavy lifting capacity, 
cementing equipment and certain specialized equipment used in the exploration, 
development and production of oil and gas. 
 
Integra Group operates in the drilling, workover, seismic and geophysics 
sectors, provides integrated project management services and manufactures 
oilfield services equipment. Integra has oilfield services operations in all 
major oil and gas producing regions in Russia and in many other CIS countries. 
The company's customer base includes major Russian and international oil and gas 
companies operating in Russia and CIS. 
 
Established in March 2004, Integra Group has, through 17 strategic acquisitions, 
has become one of the leading companies in the oilfield services and equipment 
manufacturing sectors of the Russian market and employs more than 17 000 people. 
 
Since February 27, 2007 Integra Group has been traded on the London Stock 
Exchange (symbol: INTE). 
For additional information please contact: 
 
 
+-------------------+------------------+------------------------+ 
| Integra Group     |                  |                        | 
+-------------------+------------------+------------------------+ 
| Andrei Machanskis | Head of Investor | Tel. +7 495 933 0621   | 
|                   | Relations        | amachanskis@integra.ru | 
+-------------------+------------------+------------------------+ 
| Sergey Beldinsky  | Head of Public   | Tel. +7 495 933 0621   | 
|                   | Relations        | sbeldinsky@integra.ru  | 
|                   |                  |                        | 
+-------------------+------------------+------------------------+ 
 
 
Forward looking statements: Some of the information in this press release may 
contain projections or other forward-looking statements regarding future events 
or the future financial performance of Integra Group. You can identify 
forward-looking statements by terms such as "expect," "believe," "anticipate," 
"estimate," "intend," "will," "could," "may" or "might," or the negative of such 
terms or other similar expressions. These statements are only predictions and 
actual events or results may differ materially. Integra Group does not intend to 
or undertake any obligation to update these statements to reflect events and 
circumstances occurring after the date hereof or to reflect the occurrence of 
unanticipated events. Many factors could cause the actual results to differ 
materially from those contained in Integra Group's projections or 
forward-looking statements, including, among others, general economic and market 
conditions, Integra Group's competitive environment, risks associated with 
operating in Russia, rapid technological and market change, and other factors 
specifically related to Integra Group and its operations. 
 
This document does not constitute or form part of any offer or invitation to 
sell or issue, or any solicitation of any offer to purchase or subscribe for, 
any securities of Integra Group, nor shall any part of it nor the fact of its 
distribution form part of or be relied on in connection with any contract or 
investment decision relating thereto, nor does it constitute a recommendation 
regarding the securities of Integra Group. 
 
This communication is directed only at (i) persons who are outside the United 
Kingdom or (ii) persons who have professional experience in matters relating to 
investments falling within Article 19(5) of the Financial Services and Markets 
Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth 
entities, and other persons to whom it may lawfully be communicated, falling 
within Article 49(2) of the Order (all such persons together being referred to 
as "relevant persons").  Any person who is not a relevant person should not act 
or rely on this document or any of its contents. 
 
Information contained in this document is not an offer, or an invitation to make 
offers, sell, purchase, exchange or transfer any securities in Russia or to or 
for the benefit of any Russian person or any person in Russia, and does not 
constitute an advertisement of any securities in Russia. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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