PJSC RusHydro: RusHydro has successfully closed the bid book on debut dim sum bond issue

NOT FOR RELEASE OR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE RUSSIAN FEDERATION OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.

RusHydro has successfully closed the bid book on debut dim sum bond issue

November 15, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces closing the bid book on renminbi-denominated bonds.

RusHydro is the first Russian corporate to issue Eurobond denominated in renminbi (dim sum bonds).

The issue of 3-year dim sum bonds in the amount of renminbi 1.5 bn is the largest public financing transaction denominated in renminbi by a Russian borrower. The transaction reflects implementation of agreements in the field of economic cooperation between Russia and China, including financing in national currencies.

Total demand reached 2.5 bn renminbi, with the share of Asia-based investors representing more than 82% of the final bid book. The bond is placed in accordance with RegS.The final coupon rate was set at 6.125%. RusHydro's liabilities are fixed in rubles on conditions comparable to conditions, prevailing on ruble-denominated debt market, enabling the Company to mitigate forex risk. 

Nikolay Shulginov, Chairman of the Management Board - General Director: "Successful debut placement of renminbi-denominated Eurbond demonstrated high level of trust from international investors to the Company as a reliable borrower. In particular, investors from Asia-Pacific region have shown strong interest in the issue.  For the Company raising 1.5 bn renminbi via Eurobond issue opens a new and very promising source of financing, especially important in the light of current geopolitical conditions and our strategic plans for developing energy sector of the Russian Far East".

VTB Capital, JP Morgan and Gazprombank acted as the issue organizers.

Earlier placement of debt by RusHydro in September 2017 and February 2018 also has been greeted by high interest from investors as the share of European, US and British investors represented 3/4 of the September issue volume.  RusHydro's focus on developing the energy sector of the Russian Far East attracted a record-high number of investors from China, Hong Kong and Taiwan. Their share represented over 40% of the volume. The February placement was also quite successful, as the demand was almost four times the necessary threshold volume issue of RUB 20 bn.  The final bid book was allocated between Asian, European and Russian investors with international investors representing 2/3 of demand.

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About RusHydro

RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 400 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 39 GW, heat capacity - 18.5 thousand GCal/h.

Russian Federation owns 60.56% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on Moscow Exchange (MOEX), and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.

For more information:

Investor Relations Department

Tel. +7 (495) 225 3232 ext. 1607, 1319, 1304

ir@rushydro.ru