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RusHydro has successfully closed the bid book on RUB 20 billion Eurobond

February 9, 2018. 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.

RusHydro is the first of the Russian corporates to issue RUB-denominated LPNs in 2018. International investors welcomed the placement of RusHydro’s eurobonds, as the demand was almost four times the necessary threshold volume issue of RUB 20 bn. The final bid book was allocated evenly between international and Russian investors. International investors’ share represented 2/3 of the issue volume.

Initial coupon rate target of 7.8% p.a. was reduced three times. Final coupon rate of the new issue of the 3-year ruble-denominated loan-participation notes was set at 7.4%, a historical low for RUB-denominated eurobonds issued by Russian corporates.

Nikolay Shulginov, Chairman of the Management Board – General Director: “High interest in this Eurobonds issue demonstrated by both international and Russian investors is supported by a record low rate as compared to similar placements. Now it is very important for us to improve our operational and investment efficiency, including through raising funds by issuing eurobonds. Also, the very fact of successful placement of the second eurobonds issue within six months further emphasizes investors’ trust in RusHydro Group”.
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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