MOSCOW, Feb 9 (Reuters) - Russia has released over $14 billion so far through its biggest banks to help key industries repay foreign and local debts and has given dozens of billions of roubles to support flagging companies.
In the latest such moves, coal miner SUEK, fertiliser maker Akron AKRNq.L and steel maker and coal miner Mechel MTL.N received around $1.4 billion on Monday (For stories see [ID:nL9429851] and [ID:nL9560310]).
VTB VTBR.MMVTBRq.L, alongside Sberbank SBER03.MM and Gazprombank, became clearing houses for state support to industries, while VEB bank had been entrusted with distributing refinancing help until the programme was suspended last week.
Clauses and covenants under many such refinancing deals are not being disclosed and many companies that obtained state help have said they had to use stocks or assets as collateral, raising the prospects of asset nationalisation.
Following is a list of Russian companies, categorised by whether they received refinancing help from VEB or obtained support from Sberbank, VTB and Gazprombank (new recipients marked with stars)
VEB
- United Company RUSAL, majority owned by businessman Oleg Deripaska, received $4.5 billion from VEB in October to pay back debt to foreign banks, which it amassed to buy a stake in mining giant Norilsk Nickel GMKN.MM.
- Businessman Mikhail Fridman's Alfa Group received $2 billion in October to pay back a loan to Deutsche Bank and rescue Alfa's stake in Russia's No. 2 mobile phone firm, Vimpelcom VIP.N, which was used as collateral
- VSMPO-Avisma VSMO.MM, the world's largest titanium producer, said in November 2008 it will receive $400 million from VEB to fund investment projects after revising plans to borrow from Western banks.
- Steel maker Evraz Group HK1q.L obtained a $1.8 billion loan from VEB in late 2008 to refinance foreign debts which arose from the acquisition of U.S. and Canadian steel and pipe making assets.
- State-owned Rosneft ROSN.MM, Russia's largest oil firm, received around $800 million from VEB to repay short-term debts.
- Gazprom Neft SIBN.MM, the oil arm of Russian gas export monopoly Gazprom GAZP.MM, obtained a $750 million loan to help it refinance a $2.2 billion Western syndicated loan.
- Russia's largest developer, PIK Group PKGPq.L, received $265 million to refinance short-term foreign debt.
- High-tech firm Sitronics SITRIq.L was due to receive $230 million from VEB to refinance its foreign debts, including money owed to Dresdner Bank AG.
SBERBANK
Russia's largest bank provided mainly rouble credits in the past months but other-currency loans were still available: * - Fertiliser maker Akron AKRNq.L - $128 million
- Oil firm Rosneft ROSN.MM - 20 billion roubles ($552.9 million)
- Retailer Holiday - 4 billion roubles
- Retailer Kopeika - 4 billion roubles
- Steel firm MMK MAGN.MM - 3 billion roubles
VTB VTBR.MM
- Property developer Don-Stroy secured a $500 million loan to finish construction of several housing complexes.
- Property developer Sistema-Hals HALS.L agreed with VTB to restructure its $700 million debt and borrow an additional 7 billion roubles.
VTB also lent in roubles to: * - Coal miner SUEK - 9.66 billion roubles
- Steel maker Evraz HK1q.L - 10 billion roubles to pay taxes.
- Urals Mining and Metals Co (UMMC) - 4.8 billion rouble to replenish working capital of some units.
- Steelmaker MMK MAGN.MM - 4 billion rouble to raise working capital.
- Retailer Magnit MGNTq.L - 2.5 billion roubles
- Retailer X5 PJPq.L - 7 billion roubles
- Retailer Holiday - 2 billion roubles
- State diamond miner Alrosa - 44.2 billion rouble to redeem short-term debt.
- Food maker Wimm-Bill-Dann WBD.N - 3.2 billion roubles
GAZPROMBANK * - Steel maker Mechel MTL.N - $1 billion for 3 years
- Mobile firm MTS MBT.N - 300 million euros
- Pipe maker TMK TRMKq.L - $1.1 billion to help it repay a loan it took last year to buy U.S. steel and tube making assets.
For a TAKE-A-LOOK on Russia’s financial crisis see [ID:nCRISIS]
For a factbox on Russia’s debt market see [ID:nLK443844]
Reporting by Moscow bureau; Editing by Ruth Pitchford
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