By Oliver Griffin

AFI Development PLC (AFID.LN) on Monday said it has agreed to partially repay some of its loans to lender VTB Bank (VTBR.MZ) in relation to two projects in Russia.

The company has three loan agreements relating to the projects that will mature in 2022, with a total outstanding balance of 37.7 million euros ($42.1 million).

AFI Development said its subsidiaries will repay EUR34.8 million of the loans, which were made in relation to the Plaza Spa Kislovodsk and Plaza Spa Zheleznovodsk projects.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

May 20, 2019 12:35 ET (16:35 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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