print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  ROSSETI REGISTER LOG IN

Press Releases > ROSSETI  all about the company

company search
all press releases
all ROSSETI press releases

ROSSETI

March 12, 2014

Decisions of JSC Russian Grids Board of Directors

On March 12, 2014, Russian Grids Board of Directors, at an in-person meeting, analyzed a number of issues, related to the financial security of this group of companies.
In particular, the Board considered an investment program draft of the company for the period up to 2019, adjusted in relation to the conservation of electricity transmission tariffs in 2014 to the 2013 level and the limitation of their inflation growth rate in 2015 and 2016, respectively.
By its formation there will be achieved a reduction in the period of 2014-2018, the cost of an object in the fixed assets by reducing the estimated cost to 109.6 billion rubles, without VAT, while maintaining the physical parameters of these objects. The original input plan cost in fixed assets for the period of 2014-2018 is $1.1 trillion rubles without VAT. After reviewing the project, the Board requested to organize its approval by the Ministry of Energy and the Russian Government.
The Board of Directors also decided to issue bonds of JSC Russian Grids with BO-01 to BO-10 series, totaling 100 billion rubles. The returning of the loan is from 10 to 30 years, the volume of individual series - 5, 10 and 15 billion rubles. There was approved the resolution on the issue of the said bonds and the assets prospectus. The decision on the placement of loans will be taken by the cost-effectiveness of the placement, within the limits set by the approved business plans of Russian Grids Group of Companies, the current credit policy, and depending on the market conditions.
It should be noted that the issue of exchange bonds does not impose obligations on the Company to borrow using this tool.
“Release of exchange bonds will provide the Company a wide range of investors, which will ensure the diversification of sources of financing debt used by the Russian Grids Group of Companies, as well as the flexibility to choose the optimal tool to raise funds. This will ensure the most efficient financing planned investment program, using tools with the best conditions at the necessary time,” said General Director of Russian Grids, Oleg Budargin.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer