Globaltrans Group's share of short-term debt comes to 44.5% at start of 2012
MOSCOW. Feb 24 (Interfax) - The share of short-term debt in Globaltrans Group's debt portfolio came to 44.5% at the start of 2012, or $168.6 million, the company said in its materials.
Around $38.5 million of this amount, according to the debt-payment schedule, should be paid in the first quarter, $59.7 million in the second quarter, $29.5 million in the third quarter, and $40.9 million in the fourth quarter. The group's payment obligation should be less in the coming years: in 2013 - $79.6 million, 2014 - $75.3 million, and 2015-2017 - $53.4 million.
As of December 31, 2011, total debt came to $379.1 million, 67% of which was in loans, 20% was ruble-based bonds and 13% was financial leasing. At the same time, Globaltrans' net debt came to $258.4 million.
The company's 100%-owned subsidiary, New Transprot Company, might place three bond issues this year worth 15 billion rubles. The subsidiary is the group's main asset and accounted for 68% of its railcar fleet (33,600 units) on June 30, 2011, as well as 84% of freight handling (48.1 billion tonne-kilometers) and 63% of adjusted sales revenue ($377.7 million).
Globaltrans specializes in rail shipment of metals, oil, cement, and coal. A controlling stake (50.1%) is held by Transportation Investments Holding, in which Konstantin Nikolaev, Nikita Mishin and Andrei Filatov each have an equal share. Another 14.45% of shares are held by Envesta Investments, in which Sergei Maltsev has 51% and Alexander Eliseev has 49%. Stock free float amounted to 35.31% as of the end of 2009.
