The debt of the structures of the co-owner of Rambler Group and the United cinema network of billionaire Alexander Mamut to the Bank of Non-core Assets Trust is 23.5 billion rubles, said Alexander Sokolov, Chairman of the Board of the Bank.
Sokolov noted that in the pre-crisis time, debt repayment went very well. In 2019, Mamut fully repaid the loans of the Rambler Group and closed obligations on another loan using funds from the sale of Kopter AG. At the end of April 2020, the bank received an early repayment of 1 billion rubles on a loan from Vanderkind, a company associated with the Hamleys chain of children's toy stores.
But now, according to the head of the Trust, the Cinema Park cinema chain of Mamut, like other entertainment companies, has lost a significant revenue stream for a long time. “If the borrower has difficulties, we will have to think over new conditions for restructuring so that the group has the opportunity to fulfill its obligations to the Trust,” Sokolov said.
Mamut was a minority shareholder and borrower of Otkritie FC Bank, but a few weeks before his reorganization he sold 6.67% of the shares in the parent company Otkritie Holding. In 2018, Otkritie FC transferred to the subsidiary Trust, on the basis of which the Bank formed non-core assets, large corporate loans, including loans from Mamut structures. The exact amount of Mamut's debt to the Trust has never been disclosed. At the end of 2019, two Forbes interlocutors who worked in the Otkritie group structures estimated the total debt in the amount of about 30 billion rubles. Then, this amount was confirmed by Forbes interlocutor, close to Sberbank.
In 2019, Mamut sold a 46.5% stake in Rambler to Sberbank. As a result of the transaction, the Rambler Group paid off 3.3 billion rubles in debt to the Trust. In 2020, Mamut sold the Swiss helicopter manufacturer Kopter Group AG. Mamut will direct part of the money from the sale of Kopter to repay the debt to Trust Bank, then three interlocutors working in the structures of the Otkritie group, which includes the Trust, told Forbes. One of them said that we are talking about an amount of about 4.5 billion rubles.
Sokolov noted that in the pre-crisis time, debt repayment went very well. In 2019, Mamut fully repaid the loans of the Rambler Group and closed obligations on another loan using funds from the sale of Kopter AG. At the end of April 2020, the bank received an early repayment of 1 billion rubles on a loan from Vanderkind, a company associated with the Hamleys chain of children's toy stores.
But now, according to the head of the Trust, the Cinema Park cinema chain of Mamut, like other entertainment companies, has lost a significant revenue stream for a long time. “If the borrower has difficulties, we will have to think over new conditions for restructuring so that the group has the opportunity to fulfill its obligations to the Trust,” Sokolov said.
Mamut was a minority shareholder and borrower of Otkritie FC Bank, but a few weeks before his reorganization he sold 6.67% of the shares in the parent company Otkritie Holding. In 2018, Otkritie FC transferred to the subsidiary Trust, on the basis of which the Bank formed non-core assets, large corporate loans, including loans from Mamut structures. The exact amount of Mamut's debt to the Trust has never been disclosed. At the end of 2019, two Forbes interlocutors who worked in the Otkritie group structures estimated the total debt in the amount of about 30 billion rubles. Then, this amount was confirmed by Forbes interlocutor, close to Sberbank.
In 2019, Mamut sold a 46.5% stake in Rambler to Sberbank. As a result of the transaction, the Rambler Group paid off 3.3 billion rubles in debt to the Trust. In 2020, Mamut sold the Swiss helicopter manufacturer Kopter Group AG. Mamut will direct part of the money from the sale of Kopter to repay the debt to Trust Bank, then three interlocutors working in the structures of the Otkritie group, which includes the Trust, told Forbes. One of them said that we are talking about an amount of about 4.5 billion rubles.
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