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RusHydro's subsidiary signs an agreement with Otkritie Bank

 

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that on November 22, 2021, Joint-Stock Company Far East Generating Company (JSC FEGC) (Khabarovsk, Russia, INN: 1434031363, OGRN: 1051401746769), the company with significant importance controlled by RusHydro, has entered into a major transaction (revolving framework credit facility with tiered interest rates) with PJSC Bank Otkritie Financial Corporation.

Under the General Agreement, the Creditor opens a revolving framework credit facility to JSC FEGC to finance current operating and investing activities as well as refinance existing loans and borrowings until November 21, 2028. The outstanding debt is 10,000,000,000.00 (Ten billion) rubles (the transaction is 12.01% of JSC FEGC asset value). The loan's interest rate  corresponds to a rate equal to or less than the key rate of the Bank of Russia increased by no more than 2.35 (Two point thirty-five hundredths) percent per annum.

The transaction was approved by the Board of Directors of JSC FEGC on November 16, 2021 (Minutes No. 7 dated on November 17, 2021).

 

 

 

 

 

About RusHydro

RusHydro Group is the leading producer of renewable energy in Russia. It is Russia's largest generating company and is the third hydropower company in the world with over 400 generating facilities. The Group's total electricity generation capacity including Boguchanskaya HPP is 38.0 GW.

 

For more information:

Investor Relations Department

Tel. +7 (495) 122 0555 ext. 1304

ir@rushydro.ru

 

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.

Source : https://markets.businessinsider.com/news/stocks/pjsc-rushydro-rushydro-s-subsidiary-signs-an-agreement-with-otkritie-bank-1031002930

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