Sberbank CIB Organises RUB 10.6 bln of Financing for RusHydro
OREANDA-NEWS. Sberbank CIB has organised financing worth RUB 10.6 bln for the RusHydro Group which is to be repaid in five years' time. The funds will be used to refinance the debt of companies of the RAO Energy System of East Holding (part of the RusHydro Group) to commercial banks. This will enable the holding company to considerably optimise its loan portfolio due to the lowering of borrowing costs and extension of lending terms.
The conclusion of the agreement to open the credit line was approved by the Board of Directors of RusHydro on December 3, 2013. The deal was arranged by Sberbank CIB, with assistance from the Far Eastern and North-Western Banks of Sberbank of Russia.
The RusHydro Group is one of the largest energy holdings in Russia which encompasses over seventy renewable energy facilities in Russia and abroad. The installed capacity of RusHydro's power plants is 36.5 GW, which includes the capacity at RAO Energy System of East as well as Russia's new, modern hydroelectric station at Boguchany.
RusHydro is a leader in the production of renewable energy, making use of water, tides, wind power and geothermal energy.