OREANDA-NEWS. November 08, 2011. DTEK signed an agreement with ‘Sberbank of Russia’ on a five years loan facility of USD 500,000,000 in rouble equivalent, reported the press-centre of Sberbank.

Proceeds will be used for general corporate purposes, including but not limited to financing working capital, CAPEX and M&A needs, in line with DTEK’s long-term business development strategy.

‘This credit facility is among the largest raised by Group so far, it confirms strong financial performance of DTEK. These funds will primarily be used to finance M&A projects in our traditional focus sectors - coal and energy. We highly appreciate support of our partner ‘Sberbank of Russia’ in implementing our strategic goals,” Vsevolod Starukhin, the CFO of DTEK, said.

"In spite of market volatility this deal again confirms our commitment to expand further our relationship with DTEK. It is a token of our confidence in the reliability of the leading company of the Ukranian energy sector" commented Alexey Grenkov, Head of key client coverage, Key Corporate Clients Department.

Profile
DTEK is the largest privately-owned vertically-integrated energy company in Ukraine, with efficient enterprises that mine and prepare coal as well as operate on electrical power generation and supply markets. The Company is the energy division of System Capital Management (SCM), one of Ukraine’s leading financial and industrial groups.

The coal business of DTEK is represented by DTEK Pavlogradugol (consisting of 10 coal mines), DTEK Dobropolyeugol (5 mines), DTEK Mine Komsomolets Donbassa and five coal preparation plants.

The power generation business of DTEK is represented by Vostokenergo and the associated companies Dneproenergo, where DTEK owns 47.55%, and Zapadenergo, where DTEK together with affiliate companies holds 25.06%.

Service-Invest, DTEK Energougol ENE and the associated Donetskoblenergo Company, where DTEK holds 30.6%, represent the electricity sales and supply business of DTEK. DTEK also holds a 39.98% stake in Kievenergo, a company generating and supplying heat and electricity.

Sberbank: Sberbank of Russia (Sberbank) is the largest Bank in Russia, with approximately 27% of the total assets of the Russian banking system and around 240,000 employees.  The Central Bank of the Russian Federation is the founder and the majority shareholder of Sberbank (over 60% of the voting shares), with the rest of the shares dispersed among more than 245,000 individuals and legal entities.  The Bank has the most widespread branch network in Russia: 17 Regional Head Offices, over 19,000 branches and banking outlets, as well as subsidiaries in Kazakhstan, Ukraine and Belarus, a branch in India and representative offices in China and Germany. Sberbank holds the General License No. 1481, issued by the Central Bank of the Russian Federation.