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Debt Policy

The Company carries out a balanced approach to credit portfolio management and debt capital raising, ensuring the required flexibility of current liquidity management that takes specific business requirements into account.

The company raises debt capital taking into account the following target parameters:

The following results have been achieved based on the performance in 2013

The net debt to EBITDA ratio at year-end
2013 was

The proportion of indebtedness in foreign currency at year-end
2013 was
The short-term indebtedness
at year-end
2013 was
The total value of the loan portfolio at year-end
2013 was
RUB 606 bn