RusHydro and VTB Bank signed guarantee agreement
October 21 2013 - 9:41AM
OTC Markets
RusHydro and VTB Bank signed a guarantee agreement
under the loan facility with Far-Eastern Generating
Company
JSC RusHydro (MOEX, LSE: HYDR; OTCQX: RSHYY),
announces that it has signed a guarantee agreement between RusHydro
and VTB Bank under the 5-year loan facility in the amount of RUB
4.5 bn provided to JSC ?Far-Eastern Generating Company? (part of
RusHydro Group), qualified as an interested-party
transaction.
Total transaction value (including the loan amount and
total interest expense, accruing throughout the duration of the
loan) is RUR 6,387,750,000 or 0.8% of the Company?s total
assets.
The loan facility provided by VTB Bank will be used to
refinance current liabilities and improve the Company?s debt
structure.
The Board
of Directors of RusHydro approved entering into the guarantee
agreement with VTB Bank on October 15, 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 R&D,
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.
About VTB Bank:
VTB Bank and its subsidiaries are
known as VTB Group, a leading financial group of Russia, offering a
comprehensive range of services to clients in Russia, CIS, Europe,
Asia, Africa, and the U.S. The Group?s largest subsidiaries in
Russia are VTB24, Bank of Moscow, and TransCreditBank. The Group?s
companies offer a complete range of financial services including
retail, corporate and investment banking; broking and other
stock-market services; insurance; asset management for pension and
unit funds; leasing; and more. The Russian government owns 60.9% of
VTB Bank?s equity.
For more
information:
JSC RusHydro,
Investor Relations Department
Tel. +7 (495)
225-3232 ext. 1319, 1607
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.
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