“Rosneft” is about two and a half times – to nearly 10 trillion rub.- increase the maximum revolving loans, attracted during the year and own VBRR State VTB and Gazprombank. This marginal rate of ruble loans increased significantly, and the standard list of currencies – rubles, dollars and euro – Yuan added. In the “Rosneft” explain that the funds needed for operations, and the total amount – is “the totality of treasury operations for the year.” Experts note that the most company funds would need to restructure loans.
“Rosneft” the June 17 shareholders meeting to approve the loan agreements with Bank are VTB and Gazprombank (GPB) for a total maximum amount to 9.9 trillion rubles. Similar highs borrowing shareholders approve each year, but this time outside much more than in the last year: when the company has approved a total maximum of several banks at the level of about 4 trillion rubles. Who is invited to approve the deal on attracting (including overdraft loans and credit lines) to 3 trillion rubles. at RRDB (under the control of “Rosneft”), to 3.7 trillion rubles. VTB and up to 3.2 trillion rubles. at GPB. “Rosneft” is also added to the list of standard rates of their loans (in rubles, euros, dollars) and RMB (Chinese CNPC – the main foreign partner of “Rosneft”).
Changed and maximum rates on ruble loans, last year they accounted for MosPrime (MIBOR) plus 15%, and now – MosPrime (MIBOR) plus 90%. Now, for example, the monthly rate of MosPrime – 13,51% per annum. Interest rates on loans in dollars and euros remained the same – not above LIBOR for the respective term plus 10% annual interest rate on loans in yuan – not higher than Shibor plus 90% per annum. Changes in rates of “Rosneft” explain “the natural desire to” hedge their volatility and the “crises in the money market.” But in any case, transactions are made at the best rate exhibited by partner banks in transactions, and the range is “possible admission, including critical,” the company says.
In the “Rosneft” was named the approval attract such sums “standard corporate procedures.” This “does not mean the company to attract these funds during the year, such plans the company has no”, explained in the “Rosneft”, adding that the deal is “revolver”, that is, it is a set of all possible treasury operations of the company during the year. In the “Rosneft” note that loans are needed to “meet the potential needs of the company in financing that may arise in the conduct of business.” For example, the debt of “Rosneft” in front of the Bank are explained the source “b” is never more than $ 40 million.
In this case, “Rosneft” came under Western sanctions is limited in attracting funds in foreign banks. In December 2014 the company approved a bond issue of 800 billion rubles. and within hours attracted 625 billion rubles., and a month later placed bonds for another 400 billion rubles. for six years at 11.9% per annum. The organizer of the deal appeared VBRR buyer of bonds are not called, but, according to unofficial sources, the funds for the redemption of securities of the Central Bank provided through intermediary banks. In addition, “Rosneft” claimed the National Prosperity Fund in February the deputy head of the Ministry of Economy Nikolai Podguzov said that the company had requested from the fund of 1.3 trillion rubles. 28 projects. The Ministry has selected a pre-only five of them (mining “Rospan” Yurubcheno- Tokhomskoye and Russian fields and Angarsk Petrochemical Company and shipbuilding center “Star”). On projects may send about 300 billion rubles., But the exact date of the decision no.
In this case, Alexei Kokin of “Uralsib” believes that the main thing that we need money, “Rosneft”, – restructuring of loans taken. Net debt at the end of state-owned companies in 2014 amounted to 2.47 trillion rubles., In 2015 the company should return the $ 23.5 billion of loans, some of which – $ 7.15 billion – the company has already paid in the first quarter. The debt burden of “Rosneft” has increased significantly due to the purchase of TNK-BP in 2013: this she spent $ 44 billion, taking in banks $ 31 billion. According to the analyst, the growth of the maximum amount of attraction and interest rates dictated by the market, so interest objectively loans increased, especially in the short-term loans for a few days. In this regard, says Mr. Kokin, financiers cut off from Western credits “Rosneft” raised the probable borrowing by Russian banks “to the sky”.
No comments:
Post a Comment