The total loan portfolio TMK 31 December 2009 amounted to $ 3.7 billion
The total loan portfolio TMK 31 December 2009 amounted to $ 3 729 million, including 66% long-term debt and 34% short-term debt, the company reported. This cash and short-term deposits as at end of year $ 243 million. Short-term debt of the company includes VTB loans worth $ 750 million, which provides for the possibility of prolongation for up to five years.
In 2009, in the process of active short-term debt refinancing TMK significantly improves the structure of the debt portfolio, the statement says. Key funding, involvement in 2009, includes:
• Loans Gazprombank totaling $ 1.1075 billion in January 2009 with a subsequent reduction in interest rates and lengthening maturities from 2.5 to 5 years;
• VTB loans totaling $ 750 million, the company used to pay off the first Eurobond issue and the partial redemption of the second Eurobond issue;
• Loans Savings Bank in the equivalent of $ 465 million, including a loan of $ 188 million maturity of 7 years;
• Loans Gazprombank and VTB equivalent to $ 341 million as part of credit agreements worth 5 billion rubles for a period of 3 years and 10 billion rubles for a period of 5 years, respectively, 50% of state guarantees for Russia.
As a result of involvement of the funding, the repayment schedule of the loan portfolio TMK distributed fairly evenly over the next 5 years. Currently, the company continues to work to improve the structure of the debt portfolio and the funding environment.
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