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.
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.