OREANDA-NEWS. On 02 April 2009 was announced, that JSC “Far Eastern Generating Company” under support of JSC “RAO ES of the East” has purchased all presented for redemption in accordance with additional offer bonds of 01 series. The written notice about intention to sell out bonds was presented on errand of the owners of 91.6% of bonds’ issue.

Deals on purchase of bonds were carried out in the system of MICEX via Agent (JSB “Rosbank”). The owners of bonds were paid nominal value of the bonds and accumulated income on the basis of R1.15 per one bond. Total amount of payments is R4.587 bill. Several days earlier JSC “FEGC” has fulfilled scheduled payment out of the second coupon in amount of R261.8 mil.

Presenting additional offer for redemption of entire volume of bonds on nominal value, the Board of Directors of JSC “FEGC” deliberately promise additional obligations in order to decrease investment risks for its potential buyers. At the same time the considerable support to the company was rendered by Far Eastern energy holding JSC “RAO Energy Systems of the East”, which allocated financial support to JSC “FEGC” for redemption of the bonds on the offer. Besides that, the affiliated company of the holding – JSC “Far Eastern Energy Company” – attracted credit resources and ahead of schedule has settled with the generating company.

Debut bond loan of JSC “FEGC” was scheduled as 5-year one, but the world financial and economic crisis put its correctives in the plans of investors and the energy company. Due to reducing of power consumption, increase of amount of non-payments, continuing raise of prices, and the difficulty of attracting credit resources JSC “FEGC” has to find out additional reserves for fulfillment of obligations for additional offer.

On the opinion of Deputy General Director of JSC “FEGC” Arkady KOZYAIKIN, the energy company should fulfill its obligations even in the most complicated conditions of crisis, demonstrating fidelity and reliability as well as on the market of loans and in front of other partners and counteragents. “The Far Eastern Generating Company” under the support of JSC “RAO Energy Systems of the East” and JSC “FEEC” has coped with the task and now plan to return to the financial market as soon as the situation will be stabilized there and investors will be ready to purchase the bonds of highly reliable companies”, - has noted Arkady Kozyaikin.

We remind you that issue of bonds of the first issue has been carried out for restructuring of credit portfolio of JSC “FEGC” aiming at its optimization.