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RusHydro has successfully closed bid book on RUB 20 Eurobond

September 22, 2017. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces closing and settlement of RUB-denominated loan participation notes (LPNs or eurobonds) in the amount of RUB 20 bn.

The placement of the 5-year LPNs was welcomed by international investors and the issue was oversubscribed 2x times.

More than ¾ of bids came from foreign investors in Asia, United Kingdom, Continental Europe and USA. Focus of RusHydro Group on development of the power sector of the Russian Far East and support of economic growth in the region led to record high demand from institutional investors from Singapore, China, Hong Kong and Taiwan, representing more than 40% of the issue volume.

Initial coupon rate target of 8.25% p.a. was reduced to 8.125% – the lowest level for Rouble-denominated eurobonds issued by Russian corporates since mid-2013. The spread to OFZ yield curve was 57 basis points or the minimum level among all issues by Russian corporates on international market for the period.

Nikolay Shulginov, Chairman of the Management Board – General Director of RusHydro said: “Successful comeback to international debt capital market confirms high level of trust to RusHydro as an efficient and reliable state-owned utility company. We intend to continue further development and strengthening of the RusHydro Group, including its operations in the Russian Far East, and noticed a high interest to the issue from international investors from Asian-Pacific and other regions of the world”.

The issue was assigned the following ratings: S&P: BB+; Moody's: Ba1; Fitch: BB+.

VTB Capital, JP Morgan, Gazprombank and Sberbank CIB acted as joint lead managers of the issue.

The placement and listing of the LPNs will take place on the Irish Stock Exchange under Reg S rule.
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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