Seventh Continent Rises Most in Two Weeks on Report Retailer to Get Loan

OAO Seventh Continent advanced by the most in almost two weeks after Kommersant reported the Moscow-based food retailer will get a $650 million credit line from Alfa Bank.

Majority owner Alexander Zanadvorov restructured a $560 million personal debt to a group of banks, according to Kommersant, citing people familiar with the matter it didn’t identify.

Seventh Continent traded 6.6 percent higher at 270 rubles at 10:41 a.m. in Moscow, the biggest intraday gain since June 30. The stock earlier jumped by as much as 8.5 percent.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

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