Rusnano plans to reduce net debt to zero by 2023
MOSCOW. March 23 (Interfax) - Rusnano plans to reduce net debt to zero by 2023, according to the company's financial model.
"The private equity business is built on the principle of providing capital, but not loans," Rusnano chief Anatoly Chubais told journalists in Moscow. "Loans substantially increase the risk and difficulty of the work. We are positioning ourselves as a major Russian player in this area and need to gradually leave this behind," he said.
Rusnano's debt currently totals about 133 billion rubles, Rusnano Management Company managing director for finance Artur Galstyan said. The company plans to gradually reduce the debt to approximately 20 billion rubles by 2023, which is also how much it plans to keep in deposits as a cushion.