Russia: United Aircraft Corp needs US$4.8b capital injection
Russia’s United Aircraft Corp will need a RUB300b (US$4.8b) capital injection “to complete the financial restructuring,” Rostec Corp CE Sergey Chemezov said in a meeting with Russian president Vladimir Putin July 22. “First of all, this sum is needed to implement the MC-21 programs and other civilian projects … We have inherited numerous loans from the 1990s and the early 2000s. Of course, we are servicing these debts and repaying the interest, but we will have trouble repaying the actual loans themselves,” Chemezov added. Earlier in July, Rostec announced plans to raise RUB100b with a series of bond issues that will list at MOEX Russia. The company said it will finance several civil projects, including the creation of ambulance aviation and development of MC-21 narrowbody aircraft. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-24/general/russia-united-aircraft-corp-needs-us-4-8b-capital-injection
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Russia: United Aircraft Corp needs US$4.8b capital injection
Russia’s United Aircraft Corp will need a RUB300b (US$4.8b) capital injection “to complete the financial restructuring,” Rostec Corp CE Sergey Chemezov said in a meeting with Russian president Vladimir Putin July 22. “First of all, this sum is needed to implement the MC-21 programs and other civilian projects … We have inherited numerous loans from the 1990s and the early 2000s. Of course, we are servicing these debts and repaying the interest, but we will have trouble repaying the actual loans themselves,” Chemezov added. Earlier in July, Rostec announced plans to raise RUB100b with a series of bond issues that will list at MOEX Russia. The company said it will finance several civil projects, including the creation of ambulance aviation and development of MC-21 narrowbody aircraft. <br/>
