RusHydro has improved its loan portfolio despite challenging environment

These funds were used to refinance the Company’s long-term target loans obtained in the mid-2000s to finance the comprehensive modernization of RusHydro’s generating facilities.

In the current unstable financial markets conditions RusHydro managed to reduce interest rate as well as to extend the credit period from 2.2 to 8 years through changing a loan repayment procedure (repayment through amortization schedule was changed to lump-sum payment in the end of credit period).

On April 8, 2014, Sberbank CIB has arranged an 8-year loan in the amount of RUB 2.776 bn for RusHydro Group. 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.

Konstantin Bessmertny, Member of the Management Board of RusHydro, said: “Stable partnership with the agent banks of RusHydro Group allows us to be independent of contradictive trends and current debt capital market conditions and finance our operating and investment activities more efficiently.”