Moscow, 17 June 2014- PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, announces that it has signed a loan agreement with VTB Capital plc to receive a one year (360 days) loan of RUB 23.4 billion with a subsequent extension option of 5 years. The proceeds will be used to refinance the loan from Sberbank, which expires in September 2014 and the loan with NOMOS-BANK, as well as to finance current working capital needs.