November 19, 2019. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces closing the bid book on RUB-denominated loan participation notes in the amount of RUB 15 billion maturing in November, 2024. International investors welcomed the placement.

The issue was oversubscribed ca. 5x times with investors from Asia-Pacific region, the UK and Europe representing 60% of the demand. Initial coupon target rate of 7 - 7.15% p.a. was reduced three times. The final coupon rate was set at 6.8% p.a. – an all-time low for RUB-denominated eurobonds issued by Russian corporates. The placement and listing of the LPNs will take place on the Irish Stock Exchange under Reg S rule.

Andrey Kazachenkov, member of the Management Board, First Deputy General Director emphasized that international and local investors’ high interest in the company’s latest Eurobond issue confirms RusHydro’s status as a reputable borrower. Effective debt structure management helps improve operational efficiency and investment attractiveness of RusHydro Group and promotes international investment into Russia.

JP Morgan, VTB Capital, Sberbank CIB and Gazprombank acted as joint lead managers of the issue.

Earlier placements of debt by RusHydro in September 2017, February 2018 and November 2018 as well as the debut Eurobond placement denominated in renminbi (dim sum bonds) in November 2018 have also been welcomed by high interest from international investors.