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5 Dec 2013 15:01
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December 5th, 2013
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RusHydro secures financing from EBRD for reconstruction of power facilities in the Far East of Russia
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a 12-year loan agreement with European Bank for Reconstruction and Development (EBRD) in the amount of RUR 4.4 bn, qualified as an interested-party transaction. The document was signed on December 5, 2013.
The loan will be used to reschedule the current debt of Far Eastern distribution company (DRSK), part of RAO ES of East holding, and support the company's large-scale program providing for modernization of a grid system aimed to reduce electricity losses as well as improve quality and reliability of power supply in the region.
The total price of the agreement amounts to RUR 7,333,473,972.60 (0.90% of The Company's assets value).
The loan agreement was approved by RusHydro's Board of Directors on December 3, 2013.
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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 ΠΈ MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
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For more information:
Investor Relations Department
Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304
ir@rushydro.ru
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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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