TMM examines sale of office space, apartments to repay debt

TMM (TR61 GR) General Director Mykola Tolmachov told Interfax yesterday that the company is looking at the sale of office space and apartments in its projects in order to raise cash to pay off its debt. Tolmachov said TMM could sell 8 ths m2 of office area and 20 apartments in Kyiv at various projects for about USD 25 mln. Tolmachov said TMM expects to complete six new projects in 2009. Alexander Romanov: TMM’s selling of commercial space is a forced move. Currently TMM has outstanding debt of USD 77 mln, out of which USD 33 mln should be repaid during 2009.