RusHydro JSC (RSHYY: OTCQX International Premier) | RusHydro secures financing from Sberbank of Russia

RusHydro secures financing from Sberbank of Russia

Dec 05, 2013

OTC Disclosure News Service

Moscow, Russian Federation

RusHydro secures financing from Sberbank of Russia

JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) signed a 5-year loan agreement with Sberbank of Russia in the amount of RUR 15,336,135,819.07 (1.88% of the Company?s assets value), qualified as an interested-party transaction. The document was signed on December 4, 2013.

The facility will be used to finance the current operating, financial and investing activities of the Company as well as to refinance liabilities of RAO ES of East Holding (part of RusHydro Group) owed to commercial banks, which will result in optimization of the company?s debt portfolio by reducing the cost of borrowed financing and increased maturity of loans.  

The loan agreement was approved by RusHydro?s Board of Directors on December 3, 2013.

 

About RusHydro

RusHydro Group is one of Russia?s largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of RD, engineering and electricity retail companies. Group?s thermal assets are operated by subsidiary ? RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 36.5 GW, heat capacity ? 16.2 thousand GCal/h.

Russian Federation owns 67.1% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company?s stock is traded on the MICEX and RTS stock exchanges, and included in MSCI EM ? MSCI Russia indexes. Company?s GDRs in the IOB section of LSE, ADRs ? in OTCQX.

 

 

For more information:

Investor Relations Department

Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304

ir@rushydro.ru

 

DISCLAIMER

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward-looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might,” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements.

We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/RSHYY/news?id=72620

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