Dubinsky: DTEK Ukraine leads to external default
Kiev, March 12.
Fitch expects that next month can occur external the default. About 1.8 billion dollars debts belong to the company DTEK of Rinat Akhmetov, and he, himself, will manage the bankruptcy.
About this on his page in Facebook wrote creative producer of Department of journalistic investigations “1+1” Alexander Dubinsky. We are talking about the company DTEK is the energy division of System Capital Management, the largest business group of Ukraine.
As noted by Dubinsky, DTEK is a key sponsor of the Prime Minister Arseniy Yatsenyuk is moving to a managed bankruptcy. Rating Agency Fitch believes that in the next month can occur external the default.
“We are talking about bonds for 750 million dollars with the rate of 7,875% maturing 4 April 2018 (bonds for $ 160 million with interest rate of 10.375% maturing on 28 April 2018 already restructured),” writes Dubinsky.
The expert reminded that the total foreign exchange debt DTEK exceeds three billion dollars. The loss for 2014 amounted to about UAH 20 billion. In his opinion, this does not mean the end of Akhmetov – he just doesn’t want to pay.
“According to knowledgeable people, about 1.8 billion dollars of debt DTEK is the money Akhmetov, reinvestment through offshore (method of obtaining of dividends on capital). Therefore, to manage the bankruptcy itself will be Rinat“, — said the producer.
Way to keep the business under control to the oligarch is the savings on other lenders who offer debt restructuring. After the resignation of Yatsenyuk , another oligarch Konstantin Grigorishin , with the support of Petro Poroshenko may revisit the idea to split the company as a monopolist.
“The example is already there. In 2001, AMC Sun Interbrew ordered to sell the brewery “Crimea” after the market share of the Corporation exceeded the legislative norm of 35%. The plant then bought… Akhmetov, who probably understands how to protect your business from attacks after the departure of Arseniy“—summed up Dubinsky.