Russia’s largest retailer, X5 Retail, has denied reports that it is mulling issuing equity to pay down debt.
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According to reports in the Russian media, X5 is considering issuing new shares to repay its US$1.1bn syndicated loan, which is due to mature in 2010.
However, a spokesperson for the company told just-food that this is not a measure currently under consideration.
“This is not something we are looking at,” the spokesperson said.
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