RusHydro Will Start Bond Placement on April 25, 2011
OREANDA-NEWS. April 15, 2011. JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that it will start the placement of two interest-bearing domestic bond issues of series 01 and 02 with nominal amount of RUR 10 bln each on April 25,
Gazprombank accepts the bids from potential investors from April 11, 2011 till 17.00 April 21, 2011. After the closure of the order book RusHydro will price the first coupon and has the right to determine the price of further coupons. The placement volume will total RUR 15 billion with one issue placed only in half.
The placement will be conducted via open subscription by collecting bids from investors at a fixed price and coupon rate for the first coupon period. The placement arrangements were approved by the Board of Directors July 29th, 2010. The bonds are subject to put option in 5 years.
The bond issues were registered by
RusHydro's 2011-2015 business plan, as adopted by a resolution of the Company's Board of Directors March 18th, 2011, provides for increasing long-term borrowings in 2011 up to RUR 15 billion. Proceeds will be used to finance the Company's investments as well as to partially refinance the bond issue of JSC Management Company HydroOGK, which matures in June 2011.
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