Belon Group said on Thursday that it has repaid 4.8 billion roubles ($144.5 million) of debt in Q4 2008, largely by refinancing 3.8 billion roubles of its borrowings.
In a statement Belon said that state-controlled bank VTB refinanced 1.8 billion roubles of the debt.
Total debt fell by 800 million roubles in the fourth quarter due to currency movements.
Source: Reuters
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