February 8, 2018. Moscow, Russia.
PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY)
announces that the Company's financial debt is reduced by RUB 26 bn.
RusHydro Group’s total debt load decreases as
its financial debt went down by RUB 26 bn following exclusion of
guarantee obligation between PJSC RusHydro and Vnesheconombank on
PJSC Boguchanskaya HPP loan given out by the bank in 2011.
On February 7, 2018, an Agreement to terminate the
guarantee between PJSC RusHydro and Vnesheconombank was signed. The
lending bank supported the termination following construction
completion and HPP reaching full capacity, PJSC Boguchanskaya HPP’s
stable financial and operational results and its ability to service
the loan independently. Since 2011, PJSC Bogushanskaya HPP has been
servicing the loan in full.
Nikolay Shulginov, Chairman of the Management
Board - General Director stressed importance of the Agreement: “For
RusHydro, cancelation of the guarantee means not just reduction of
debt load, but expression of high level of trust on behalf of
Vnesheconombank, our partner in large-scale investment projects”.
Earlier the Board of Directors instructed the management to
negotiate cancelation of the guarantee on the loan to Boguchanskaya
HPP. UC RUSAL, the second shareholder of Boguchanskaya HPP, supported
the initiative as well.