Mosenergo sees IFRS net debt rise to 49.1 bln rubles in 2014 from 26.5 bln rubles in 2013
MOSCOW. March 26 (Interfax) - OJSC Mosenergo posted net debt of 49.1 billion rubles in 2014 versus 26.5 billion rubles in 2013, the company said in a presentation on its 2014 performance under International Financial Reporting Standards (IFRS).
The debt-to-EBITDA ratio was 2.04, up from 1.07 in 2013.
A large portion of debt is in unsecured bank loans totaling 47.334 billion rubles, while 105 million was unsecured securities and 1.7 billion rubles "other liabilities."
The debt portfolio includes a 23.5 billion ruble unsecured loan from Sberbank and an 8.25 billion ruble loan from VTB that matures in 2018. Another 8.276 billion rubles was in a loan from BNP Paribas due in 2022, while there was a loan for 7.3 billion rubles from Credit Agricole CIB due in 2024.
