OREANDA-NEWS. October 23, 2012. DTEK signed an agreement for a syndicated credit line of a total amount of EUR 416 million arranged by Sberbank CIB[1], Gazprombank (Open Joint Stock Company), ING Bank NV and UniCredit Bank Austria AG. The facility has two tranches with tenors of three and five years, respectively.

 Funds received from the syndicated loan will be directed to DTEK production facilities to finance modernization programs and for other purposes.

 ING Bank NV acted as documentation agent and UniCredit Bank Austria AG as information agent.

 "DTEK’s production facilities require modernization. It is the Company’s responsibility to ensure necessary funds are available for investment,” said Vsevolod Starukhin, DTEK’s CFO. “Taking into account the banks’ conservative policies on lending for production, this syndicated facility once again proves the effectiveness of DTEK’s management system – the transparency of our business, stability of our business processes and the reliability of our results. We are focused on long-term cooperation with banks and interested in expanding the range of financial instruments that allow us to fund the Company’s strategic projects."

Reference

DTEK is the largest energy company in Ukraine. The Company is the energy division of System Capital Management (SCM). DTEK’s enterprises operate effectively in coal mining and preparation, and electricity generation, distribution, and sales.

 DTEK’s portfolio of coal assets includes 31 mines and 12 coal preparation plants in Donetsk, Dnipropetrovsk and Luhansk regions of Ukraine and in Rostov region of the Russian Federation. In 2011, DTEK’s Ukrainian mines produced more than 37 million tons of coal.

 The generation segment is represented by 10 thermal power plants and two combined heating and power plants with more than 18 GW of total installed capacity. DTEK’s generation enterprises are located in seven regions of Ukraine and the capital (Kyivenergo generates and supplies electricity and heating to Kyiv).

 DTEK’s electricity distribution and sales segment includes five enterprises that collectively supply power to approximately 4.5 million customers – both individuals and legal entities.

 DTEK Trading sells energy products in domestic and international markets. Coal exported by DTEK Trading is consumed by power plants, coking plants and iron and steel works in Ukraine as well as power plants and industrial facilities in Europe, Asia, North and South America and Africa. The Company also exports energy to Hungary, Slovakia, Romania, Poland, Moldova, and Belarus.

 DTEK’s consolidated revenues in 2011 amounted to UAH 39.6 billion; the Company’s net profit totaled UAH 3.5 billion.  DTEK paid UAH 5.6 billion in taxes in 2011.