22nd Apr 2015 16:19
April 22, 2015
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RusHydro will place RUB 10 bn of bonds
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the bid book for the Company's non-convertible interest-bearing bonds of series 09 with mandatory centralized custody in the amount of 10 mn securities with par value of RUB 1,000 per bond and total par value of RUB 10 bn was closed. The bonds mature in 10 years or on the 3,640th day from the date of placement. The bonds are subject to put option in 2.5 years.
In accordance with the decision of the Chairman of the Management Board - General Director of RusHydro of April 22, 2015, the securities are to be placed through an open subscription by collecting bids from investors at a fixed price and coupon rate for the first coupon period in compliance with the decision on securities issue and Prospectus. The bids should have been submitted to Sberbank CIB and VTB Capital from 11:00 till 16:00 Moscow time on April 22, 2015.
The bonds will be placed in total amount of 10 mn securities with par value of RUB 1,000 per bond. The start date of bonds placement is April 28, 2015. There will be no preemptive right to acquire the securities.
The procedure for determining the price of placement:
The placement price of bonds is set at one thousand (1,000) rubles per Bond (100% of the nominal value).
Starting from the second day of the placement of bonds, the buyer shall, during a bonds' purchase and sale transaction, also pay the accrued coupon yield (ACY) on bonds determined in accordance with the following formula:
ACY = Nom * C * ((T - T0) / 365)/ 100%, where
"ACY" is accumulated coupon yield, in rubles.
"Nom" is the nominal value of one Bond, in rubles;
"C" is the coupon interest rate for the first coupon period, in percent per annum;
"T" is the placement date of the Bonds;
"T0" is the start date for the placement of Bonds.
The amount of accrued coupon yield per bond shall be determined down to one kopeck (the amount shall be rounded in accordance with mathematical rounding rules. The mathematical rounding rules shall mean a rounding method where the value of whole kopeck (whole kopecks) shall not change if the first digit after the rounded digit ranges from 0 to 4, and shall be changed by one unit if the first digit after the rounded digit ranges from 5 to 9).
The end date of bonds placement should be the earliest of the following dates:
a) The fifth (5th) business day from the start date of placement;
b) The date of placement of the last bond.
The end date of bonds placement cannot be later than three (3) years from the date of the state registration of the Bonds' issue.
The bond issue was registered by the Bank of Russia Financial Markets Service on December 27, 2012 (state registration number 4-09-55038-E).
About RusHydro
RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 37.5 GW, heat capacity - 16.2 thousand GCal/h.
Russian Federation owns 66.8% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the MICEX and RTS stock exchanges, and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.
For more information:
Investor Relations Department
Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One 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 and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.
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