February 9, 2018. Moscow, Russia.
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY)
announces closing and settlement of RUB-denominated loan
participation notes (LPNs or Eurobonds) in the amount of RUB 20 bn.
RusHydro is the first of the Russian corporates to
issue RUB-denominated LPNs in 2018. International investors welcomed
the placement of RusHydro’s eurobonds, as the demand was almost
four times the necessary threshold volume issue of RUB 20 bn. The
final bid book was allocated evenly between international and Russian
investors. International investors’ share represented 2/3 of the
issue volume.
Initial coupon rate target of 7.8% p.a. was
reduced three times. Final coupon rate of the new issue of the 3-year
ruble-denominated loan-participation notes was set at 7.4%, a
historical low for RUB-denominated eurobonds issued by Russian
corporates.
Nikolay Shulginov, Chairman of the Management Board
– General Director: “High interest in this Eurobonds issue
demonstrated by both international and Russian investors is supported
by a record low rate as compared to similar placements. Now it is
very important for us to improve our operational and investment
efficiency, including through raising funds by issuing eurobonds.
Also, the very fact of successful placement of the second eurobonds
issue within six months further emphasizes investors’ trust in
RusHydro Group”.
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