London-listed Russian residential developer PIK has announced that it has met all the conditions required by Sberbank RF for the restructuring of its loan portfolio and the release of new financing totalling RUB 12.75 bn (EUR 298 mln).

The conditions included the receipt of state guarantees totalling RUB 14.4 bn and loan restructuring agreements with PIK Group's other major creditors, including VTB, Rosbank and Absolutbank.