Companies

Corporates

DTEK (DTEK)

Issuer Profile

DTEK is the largest private and vertically integrated energy company in Ukraine controlled by the country’s leading financial and industrial group, System Capital Management. DTEK enterprises form an efficient chain of coal production and enrichment, electricity generation and distribution. The company accounts for 49% of domestic coal production, 30% of electricity generation and 39% of electricity distribution.

Bond Information

Year2024
Market Price* ($)105.5
Market YTM*9.76%
Spread over UST*685
Issue Volume ($m)1,275
Coupon Rate (% p.a.)10.75%
Coupon FrequencyQ
Maturity Date12/31/2024
Ratings: Moody's/S&P/Fitch-/-/C

Note: *Based on bid price.

Memorandum Terms

Covenants
Financial Reports A - within 120 days; S/A - within 90 days
Events of Default:  
Failure to pay
Cross default $10m
Expiry of license, illegality, insolvency etc.
Judgments $15m

Issuer Financials

Year201520162017E2018E
Net Sales ($m)4,2875,0125,330-
EBITDA ($m)187.0697.0905.0-
Net Income ($m)(1,712)(262.0)(110.0)-
EBIT Coverage Ratio (x)(2.65)8.673.17-
Net Debt/Equity (%)1,146%1,090%307.8%-

YTM

You need to upgrade your Flash Player