Sberbank CIB arranged financing for RusHydro Group in the amount of RUB 2.8 bn
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that Sberbank CIB has arranged an 8-year loan in the amount of RUB 2.776 bn for RusHydro. The facility will be used to refinance current liabilities of the Company.
The loan agreement was approved by the Board of Directors of RusHydro on March 28, 2014. The transaction was prepared by Sberbank CIB team together with JSC Sberbank of Russia.
Vadim Logofet, Senior Banker, corporate client management department at Sberbank CIB, commented: “Our cooperation with RusHydro Group is an example of long-term and beneficial partnership. This transaction reaffirms that Sberbank CIB has the right strategy aimed at providing a wide variety of financial instruments and solutions to our clients. We appreciate long and stable relations between our companies and plan to develop them in future in order to facilitate implementation of RusHydro Group goals.”
Konstantin Bessmertny, Member of the Management Board of RusHydro, added: “The advantageous terms of Sberbank CIB loans make us independent of contradictive trends and current debt capital market conditions.”
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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