RUSSIA: Wimm-Bill-Dann secures credit line - report

By just-drinks.com editorial team | 20 January 2009

Russian beverage and food company Wimm-Bill-Dann has secured a one-year credit line for RUB3.2bn (US$98.3m), according to reports.

The Russian food and beverage group has also agreed on overdraft facilities in the amount of RUB500m, Reuters India reported, from state-controlled bank VTB.

The company's board chairman David Yakobashvili said in December that it was seeking around RUB5bn from banks for at least 12 months.

Last month Wimm-Bill-Dann saw its revenue grow by 24.8% in the first nine months of fiscal 2008 to US$2.19bn. Beverage sales rose by 20% to $372.5m for the nine months, and by 15% in the third quarter.

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