RusHydro signs loan agreement with VTB
April 02, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a credit agreement with Bank VTB with a debt limit of 30,000,000,000 (Thirty billion) rubles and on the period of 15 years from the effective date of the agreement.
Maximum interest rate: the key rate of Bank of Russia increased by 3 percent per annum.
RusHydro shall repay all the credits on the date that occurs five thousand four hundred and seventy-five (5475) calendar days after the effective date of the Agreement.
The maximum amount of the transaction shall not exceed 76,125,000,000 rubles.
Date of the transaction: March 30, 2018.
The agreement qualified as an interested-party transaction. For the purposes of the transaction, Nikolay Radiyevich Podguzov, the member of the Board of Directors, was determined as interested parties.
In accordance with the Federal Law On Joint-Stock Companies (Article 81), RusHydro notified all members of the Board of Directors and members of the Management Board of RusHydro about that transaction. RusHydro has not received any requests to approve the transaction. Therefore, the decision on the consent to the conclusion or subsequent approval of the transaction was not made.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You 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, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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