JSC RusHydro has just signed a 5-year loan agreement with Sberbank of Russia, in the amount of ~RUB15.336 billion (~US$466.2 million). This amount totals 1.88% of the company’s asset value and qualified as an interested-party transaction.

The facility will be used to finance the current operating, financial and investing activities of the company as well as to refinance liabilities of RAO ES of East Holding (which is part of the RusHydro Group) owed to commercial banks, This will result in the optimization of the company’s debt portfolio by reducing the cost of borrowed financing and increased maturity of loans.

The loan agreement was approved by RusHydro’s Board of Directors on December 3rd 2013 and the document was signed the following day.

Source: Energy Business Review
Link:
http://hydro.energy-business-review.com/news/rushydro-signs-five-year-loan-agreement-with-sberbank-091213-4142552