23 Apr 2015 15:13

United Wagon Co 'comfortable' with net debt/EBITDA ratio at 3

MOSCOW. April 23 (Interfax) - The management of the United Wagon Company (UWC) group believes a net debt/EBITDA ratio of 3 is "a comfortable level," UWC said in a presentation posted on the Moscow Exchange's website.

UWC's net debt totaled 89.9 billion rubles as of the end of 2014, of which 6.3% was denominated in foreign currency. The debt repayment peaks will come in 2016 and 2019, when UWC must redeem two bond issues of 15 billion rubles each, paying a total of 19.4 billion rubles in 2016 and 20.285 billion rubles in 2019.

In addition, the program for development of the fleet of rolling stock operated by the company will be financed in part by borrowing, the presentation said.