RusHydro Will Place RUR 20 bln of Bonds with Coupon Rate of 8.5%
OREANDA-NEWS. JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) has finished accepting the bids for its 5-year domestic bonds of series 07 and 08 with par value of RUR 10 bn each and determined the coupon rate.
During marketing campaign the Company received more than 50 applications from investors with a coupon rate ranging from 8.35% to 8.6% per annum. The interest for the bonds exceeded RUR 20 bn.
The bid book for bonds of series 07 and 08 was closed at 16:00 (Moscow time) on February 8, 2013.
As a result of placement the rate of 1-10 coupons was set at 8.5% per annum. The bonds will be placed in total amount of RUR 20 bn.
RusHydro’s bonds of series 07 and 08 are planned to be included in the Quotation list “A”, Level 1 of the MICEX Stock Exchange.
The start date of bonds placement is February 14, 2013. Sberbank CIB has been retained as an underwriter of the bonds placement. Sberbank CIB, VTB Capital and Sviaz-Bank will act as lead managers of placement, co-managers will be Unicredit Bank, Baltic Financial Agency and Globexbank.
The placement arrangements were approved by the Board of Directors on October 30, 2012.
The Federal Financial Markets Service of Russia registered the Company’s bonds issues on December 27, 2012 (state registration numbers 4-07-55038-E and 4-08-55038-E). The par value of each security is RUR 1,000.
With 36.5 GW installed electricity generation capacity, RusHydro is one of Russia's largest power generating companies.
Including the Sayano-Shushenskaya HPP, the largest in Russia, the Company has over 70 renewable energy source (RES) facilities: 9 power stations in the Volga-Kama Cascade with a total installed capacity of more than 10,167 MW, the Zeiskaya HPP (1,330 MW) – the first large-scale hydro-power plant in the Russian Far East, the Bureiskaya HPP (2,010 MW), the Novosibirsk HPP (455 MW) and tens of HPPs in the North Caucasus.
The Company’s assets also feature geothermal power plants in Kamchatka and the highly maneuverable Zagorskaya Pumped Storage Hydropower Plant (PSPP) in the Moscow Region.
RusHydro has a controlling stake in the RAO Energy System of the East, featuring 8,772 MW of installed electric capacity, 16.2 Gcal/h of heat capacity and more than 96 thousand kilometers of grid lines in the Russia's Far East.
Outside Russia, RusHydro owns the 561-MW Sevan-Razdan Cascade in Armenia.
In addition, the Company's holdings include engineering and retail businesses.
As of 30 June 2012, the Russian Federation owned 60.4952% of RusHydro's share capital.
RusHydro shares are traded on the MICEX-RTS. In July 2008, the Company launched a global depository receipt (GDR) program; in July 2009, its DRs began trading on the London Stock Exchange (LSE); and in August 2008, RusHydro's shares were included in the MSCI EM and MSCI Russia indices.
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