Government launches anti-crisis measures. As the crisis of 2008-2009, one of the first government support can get Oleg Deripaska. Three federal officials say that GAZ Group (included in "Basic Element" Deripaska) plans to soon apply to the government for obtaining the state guarantee for 25 billion rubles. According to Forbes interlocutors, this Vice President of GAZ Elena Matveeva said on Tuesday, 17 February, at a meeting of the governmental commission on economic development and integration.
A spokesman for First Deputy Prime Minister Igor Shuvalov (head of the commission) confirms that the issue of the receipt of state guarantees GAZ 25 billion was discussed at the Commission.
One of the federal officials said that the representative of GAZ complained to the commission that the company is difficult to maintain the previously taken VTB loan.
Skirmish ensued with the Chairman of the Board of VTB Andrey Kostin, who said that GAZ has not even started to repay the loan.
State guarantees GAZ need to restructure debt to VTB arguesie one of Forbes interlocutors, but does not specify details. In his words, the probability of obtaining state guarantees GAZ is very high, but the company has to go through the formal procedures: apply to the Ministry of Economic Development and the Ministry of Finance and to be tested for compliance with certain requirements, for example, the company should not have tax debts.
"There is the government's position that it (the allocation of state guarantees GAZ -. Forbes) is possible, but the company must submit a financial recovery plan and undergo a number of procedures" - confirms another federal official.
The press service of GAZ declined to comment on the possible allocation of state guarantees. President Vadim Sorokin group in September 2014 asked President Vladimir Putin to increase the availability of loans for the automotive industry. According to "Interfax", the corresponding letter top manager sent the head of state and proposals considered by the relevant departments.
According to the statements of GAZ, the first half of 2014 the group's net debt exceeded 60 billion rubles. The current size of the debt representative of GAZnot disclosed, but is 33.25 billion rubles, according to Forbes data, only for the syndicated loan VTB and Sberbank debt gas (including payments). In 2014, the company paid on the loan to 1.7 billion rubles of debt and 4.6 billion rubles percent.
The market of light commercial vehicles declined by 20% in 2014, the bus market - more than 30%. GAZ representative said the company is trying to reduce costs and in 2014 they were reduced by 9.8 billion rubles, including 1.3 billion -. Thanks to savings in non-production costs (advertising, travel, hospitality etc).
If GAZ will receive state guarantees, it may be one of the first companies in which the government has helped the current crisis (formerly state guarantees by 9 billion rubles received "Transaero" airline).
During the crisis of 2008-2009 and Deripaska it was among the first who helped the government. In October 2008, the Supervisory Board of VEB has approved the issuance of UC Rusal loan of $ 4.5 billion. And in summer 2009, the anti-crisis commission Shuvalov has approved the allocation of state guarantees for 20 billion rubles, which allow gas restrukturth e its debt to the sum of 39.3 billion rubles banks. Then there were 12 banks, including VTB, Sberbank, Vnesheconombank, Gazprombank and Alfa-Bank among creditors GAZ.