Debt policy and relations with investors and analysts
As of the end of 2015, the key performance indicators of the Russian Railways Group’s loan portfolio featured the following values:
Approximately 10 years
The Company undertakes consistent steps to increase and maintain the average repayment period in its loan portfolio.
In 2015, the average borrowing period increased by 1 year compared with the previous period.
Proportion of short-term debt
Russian Railways maintains the level of short-term borrowing in the loan portfolio at 15% or less to minimise risks associated with the need for refinancing.
In 2015, the short-term debt level decreased 8% versus the previous year.
Proportion of public debt instruments
Russian Railways primarily borrows using debt capital market tools: bonds, Eurobonds and infrastructure bonds that offer an optimal price/maturity ratio.