Last checked at 24 Sep 2013 10:15
HMS Group Media Release
September 24, 2013
HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS Group raised 5-year Rub 1.83 bn facility for refinancing a loan with maturity in 2 years
Moscow, Russia – HMS Group (LSE: HMSG), the leading pump and compressor manufacturer as well as a provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS, announces today that is has secured a 5-year loan facility of Rub 1.83 billion from Sberbank, the largest bank in Russia and the CIS.
The credit will be utilized to refinance the existing loan with repayment in 2015. Though the new debt was arranged for a longer period, it has more attractive interest rates.
Therefore, within a month HMS Group signed agreements for refinancing of Rub 4.58 billion, including previously secured Rub 2.75 billion. As a result, this will lead to more comfortable and smooth debt repayment schedule.
HMS Group is the leading pump and compressor manufacturer, as well as a provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are key elements of projects in a diverse range of basic industries. The Group reported revenues of Rub 7.3 billion, adjusted EBITDA of Rub 854 million and profit for the period of Rub 26 million for the 3 months ended March 31, 2013. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
| For further information, please contact: |
| Inna Kelekhsaeva, Deputy Head of Capital markets |
| Tel: +7 (495) 730-66-01, ext. 1318 |
| kelekhsaeva@hms.ru |
| Nozima Karimova, Head of Press Service |
| Tel: +7 (495) 730-66-10 |
| karimova@hms.ru |
Disclaimer
This communication doesn’t constitute an offer or, or the solicitation of an offer to buy or subscribe for, GDRs or other securities to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for release, publication or distribution in or into the United States, Australia, Canada, Japan or the Russian Federation.
This announcement is not an offer for sale of any securities in the US. Securities may not be offered or sold in the US absent registration or an exemption from registration under the US Securities Act of 1933, as amended (The “Securities Act”). HMS Group has not registered and does not intend to register any portion of any offering in the US or to conduct a public offering of any securities in the US.
This announcement contains statements about future events and expectations that are forward-looking in nature. Any statement in this announcement that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. HMS Group assumes no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
Copyright Business Wire 2013