Russia 111216 Basic Political Developments
Mechel sees no problem in paying off Russia 111216 Basic Political Developments.7 bln in debt next year
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- Vimpelcom appoints Anton Kudryashov head of Russia business unit
- Anton Kudryashov, Pyotr Aven leave CTC Media
Mechel sees no problem in paying off $2.7 bln in debt next yearhttp://www.interfax.com/newsinf.asp?id=295787 MOSCOW. Dec 16 (Interfax) - Mechel Group (RTS: MTLR) sees no problems in paying off $2.66 billion in debt next year, the company said in its debt payment schedule for 2012-2016. "Around $1.1 billion of this amount is in renewable loan facilities while $369 million is bond borrowing, which might be refinanced through tying the coupon rate to the market," Mechel's vice president for finances, Stanislav Ploshchenko, said during a conference call on Thursday. "Therefore, we will have only $1.2 billion to pay off. We also have a safety cushion. If money is placed in accounts and unselected loan facilities, it then only comes to $2.1 billion at present," he said. He did not rule out that the company might exceed its net debt to EBITDA covenant which now comes to 3.5. However, he noted that Mechel should "be able to reach an agreement on changing the covenant's level". Mechel reached an agreement with banks in the first half of this year to change the debt covenant. The company's net debt to EBITDA rate was increased from 3 to 3.5 for end of 2011. The changes in the covenant might be reflected in the appreciation on costs to service the debt and restrictions on investment, Ploshchenko said. The main beneficiary in OJSC Mechel is its board chairman, Igor Zyuzin. The company's free float comes to around 30%. Ih (Our editorial staff can be reached at eng.editors@interfax.ru) 09:07 Gokhran expected to buy planned $300 mln of diamonds from Alrosa in 2012 http://www.interfax.com/news.asp Norilsk Nickel taps $2bn loan from Sberbank http://www.rbcnews.com/free/20111216103257.shtml RBC, 16.12.2011, Moscow 10:32:57.Kola MMC, a subsidiary of Norilsk Nickel, has taken out a RUB 61bn (approx. USD 1.9bn) non-revolving credit line from Sberbank, the leading nickel and palladium producer announced. Neither term nor interest rate was disclosed. The borrowed funds will be assigned to Norilsk Nickel Investments until 2016. December 16, 2011 13:05 Vimpelcom appoints Anton Kudryashov head of Russia business unithttp://www.interfax.com/newsinf.asp?id=295808 MOSCOW. Dec 16 (Interfax) - Former CTC Media Anton Kudryashov will head OJSC VimpelCom (RTS: VIMP), the Russian business unit of telco Vimpelcom Ltd, and serve as its General Director effective January 16, 2012, VimpelCom Ltd said in a statement Elena Shmatova, current Head of the Russia business unit and General Director of OJSC VimpelCom, will be joining VimpelCom's finance team in Amsterdam as Group Director Business Control, Development and M&A, reporting to Chief Financial Officer, Henk Van Dalen. Kudryashov "will focus on further enhancing the company's pricing, network and customer offering and delivering on the strategic Value Agenda, including achieving the targeted savings through our operational excellence program," the statement said. Kudryashov was appointed CEO of CTC Media in August 2008. He started his professional career at CS First Boston international investment bank. Later he became one of the founding partners of Renaissance Capital investment bank. He also held senior executive positions in insurance and private equity. In 2002-2003, he served as restructuring CEO of NTV-Plus. In 1998, Kudryashov founded Afisha Publishing House, one of the most dynamic publishing start-ups in the last 10 years in Russia. He was the Chairman of the Board of Afisha Publishing House until 2005. Pr (Our editorial staff can be reached at eng.editors@interfax.ru) December 16, 2011 09:10 Anton Kudryashov, Pyotr Aven leave CTC Mediahttp://www.interfax.com/newsinf.asp?id=295734 MOSCOW. Dec 16 (Interfax) - The chief executive of Russia's CTC Media, Anton Kudryashov has stepped down effective December 15 "based on mutual agreement," the company said in a press release. "Angelo Codignoni has been elected as Co-Chairman of the Board of Directors and that Dmitry Lebedev has been appointed as a new member of the Board. Mr. Lebedev takes the Board seat held by Peter Aven, who has stepped down from the Board. In addition, Anton Kudryashov has stepped down as Chief Executive Officer effective as of December 15, 2011, based on mutual agreement. He has been replaced on an interim basis by the Company's Chief Financial Officer, Boris Podolsky, until a permanent replacement is appointed," the company said. Kudryashov was named CEO in 2008. Podolsky has held the post of CFO at CTC Media since 2007, prior to which he was director of finance and corporate reporting at Mobile TeleSystems (MTS) (RTS: MTSS); before that he held various positions at Ernst & Young. According to unofficial reports, Kudryashov will replace Yelena Shmatov as chief executive of mobile provider VimpelCom (RTS: VIMP). Angelo Codignoni, 63, has served as a member of the CTC Media Board of Directors since June 2011. Codignoni has almost 30 years of experience in television, media and advertising, including the creation and management of television networks in Europe and Asia. Most recently, from 1996 to 2006, he served as President and Chief Executive Officer of EUROSPORT SA, Europe's largest sports television network. Codignoni currently serves on the boards of directors of several privately held companies. Dmitry Lebedev, 43, has more than 20 years of banking experience in Russia. Lebedev has served as Chairman of the Management Board of Bank ROSSIYA, a large Russian national corporate bank, since 2006, and joined Bank ROSSIYA in 2004 as Advisor to the Chairman of the Board of Directors. Bank ROSSIYA has an indirect interest in Telcrest Investments Limited, which holds a 25.2% stake in CTC Media. Lebedev also serves on the board of directors of several affiliates of Bank ROSSIYA, including SOGAZ, the second largest insurance company in Russia. Vp of
(Our editorial staff can be reached at eng.editors@interfax.ru) Directory: gifiles -> attach attach -> British Forces – Akrioti, Greece Griffin Fighter Squadron (84 Squadron raf) MoD announced possible Typhoon and Tornado arrivals to the base France attach -> Russia 110204 Basic Political Developments attach -> Unclassified//for official use only attach -> Adaptability Sustainment attach -> Pop-up 1 ("C" Chechnya) Header Text: Emir of the Caucasus Emirate Doku Umarov Image attach -> Russia and Islam are not Separate attach -> Chapter 13: The Northern Caucasus attach -> Russia 100209 Basic Political Developments attach -> The evolution attach -> The devolution Download 327.41 Kb. Share with your friends:
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