Vekselberg company did not find buyers for its bonds

"T plus" did not suit the proposed rate on its bonds for 10 billion rubles.
25.11.2017
Vedomosti
Origin source
 Energo company T + (part of the Renova group of Viktor Vekselberg) refused to place bonds, as the proposed rate was higher than the level of current lending, a company representative told Vedomosti. The fact is that the company has already been credited for a long time under 8.1%, today the banks with which the company operates are offering better conditions than the public debt market, he explained this decision. This is indicated by the recent placement of energy companies, for example, RusHydro is located at 8.125%, IDGC of the South - at 9.24%, the company representative said.

In early November, T + reported that, in accordance with the long-term development strategy, plans to issue seven-year bonds worth 10 billion rubles. with a nominal value of 1000 rubles. The paper was planned to be issued on the Moscow Stock Exchange in the framework of the program of exchange bonds registered in 2017 for 30 billion rubles.

The proceeds will be used to diversify and refinance the loan portfolio of "T Plus", the company reported. "Now our highest rate is 18%. I think that we have not worked here, "- said" RIA Novosti "deputy director of" T plus "for economics and finance Kirill Lykov. Now the company is negotiating to refinance this loan at a lower interest rate, he said: in November it was possible to negotiate with the three large banks on a strong rate cut.

In an interview with "Vedomosti" and. about. general director of "T Plus" Denis Pasler said that he considers the current level of the debt burden of the company 3 EBITDA acceptable. "Until recently, the company had a load of 5 EBITDA, and now - 3 EBITDA. I consider this level acceptable. From next year, we plan to reduce the load, "- he said. But if the government accepts the plant modernization program - the so-called "DPM-stroke" (the agreement on the provision of capacity, which guarantees return on investment with high yields) - and implementation begins, the company will need money and the debt can be revised, the top manager specified.

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