Sberbank CIB Arranges Financing for RusHydro Group
OREANDA-NEWS. JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that Sberbank CIB has arranged an 8-year loan in the amount of RUB 2.776 bn for RusHydro. The facility will be used to refinance current liabilities of the Company.
The loan agreement was approved by the Board of Directors of RusHydro on March 28, 2014. The transaction was prepared by Sberbank CIB team together with JSC Sberbank of Russia.
Vadim Logofet, Senior Banker, corporate client management department at Sberbank CIB, commented: “Our cooperation with RusHydro Group is an example of long-term and beneficial partnership. This transaction reaffirms that Sberbank CIB has the right strategy aimed at providing a wide variety of financial instruments and solutions to our clients. We appreciate long and stable relations between our companies and plan to develop them in future in order to facilitate implementation of RusHydro Group goals.”
Konstantin Bessmertny, Member of the Management Board of RusHydro, added: “The advantageous terms of Sberbank CIB loans make us independent of contradictive trends and current debt capital market conditions.”