IDGC of the North-West having completed corporate procedures for preparation for issue of inconvertible stock obligations in a total amount equal to 15 bln RUB

The Board of Directors of IDGC of the North-West (subsidiary company of Russian Grids, JSC) considered the issue concerning placement of interest-bearing certified stock obligations with mandatory centralized storage in a total amount equal to 15 bln RUB

According to Deputy General Director for Economics and Finance of IDGC of the North-West, JSC Dmitry Guba, the company has currently completed corporate procedures for the obligations placement preparation. The decision on placement proper will be taken subject to favorable market opportunities.

"We consider the obligations placement possibility as an alternative to credit resources raising on more favorable conditions. This does not mean an increase of the company's credit portfolio," commented the grid organization top manager.