Rusnano does not have enough funds to continue making debt payments – Kommersant

Since the beginning of 2021, the Rusnano company has reduced its debts from 148 billion rubles. up to 69 billion rubles, said managing financial director, member of the board of the development institute Vladislav Yunusov. According to him, almost the entire debt was paid from the company’s funds without restructuring or delays. However, now Rusnano does not have enough resources to pay the debt.

“Now the moment has come when our resources are no longer enough to service the debt, even taking into account the funds that we will be able to recover in court and the assets that could still theoretically be sold,” said Mr. Yunusov “Vedomosti”.

It was possible to reduce the debt, in particular, from proceeds from the exit from portfolio companies; due to this, 74 billion rubles were received. in 2021–2023. Now all the main assets that were worth selling have already been sold. 62 billion rubles. debt out of 69 billion rubles. provided with government guarantees. Rusnano, among other things, is working with law enforcement agencies to recover damages from former partners of the development institute. However, even with these funds, the resources will not be enough to service the obligations rhythmically.

According to Mr. Yunusov, Rusnano and the federal authorities are negotiating with banks on a one-time repayment of debt with a 30 percent discount. In this case, the company will be able to continue its function of developing the venture market and will not require budget support.

According to Vladislav Yunusov, Rusnano was successful in terms of investment, “but not financially.” “If we ignore the various types of abuses that were committed during the entire period of Rusnano’s existence, the main conclusion is that you should not finance a venture fund with bank loans,” he added.

Rusnano’s financial problems became known in the fall of 2021. Then the Moscow Exchange suspended bond trading amid the publication of a company message about “disproportionate debt” and the need for adjustments. In the spring of 2022, Sergei Kulikov, who replaced Anatoly Chubais as head of the company, asked the Prosecutor General’s Office to check the company’s activities under the previous leadership. Kremlin admittedthat there is a “big hole” in Rusnano’s reporting.

Leonid Uvarchev