RusHydro paid coupon income to Russian holders on ruble Eurobonds

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AK&M 26 May 2022 18:38

RusHydro paid coupon income on ruble Eurobonds with a nominal volume of 15 billion rubles. maturing in 2024. Coupon income was paid to Russian holders of Eurobonds whose rights are recorded in NSD. The coupon income was paid in accordance with the permits issued by the Ministry of Finance in coordination with the Bank of Russia. This is stated in the company's message.

The coupon payment through a foreign payment agent to holders of Eurobonds whose rights are recorded in a foreign accounting infrastructure is currently impossible due to sanctions, the message emphasizes.

RusHydro has the necessary financial resources to service the debt and continues to charge interest on Eurobonds. The Company applied to the UK regulatory authorities for a special license. As soon as it becomes technically possible, RusHydro will pay the remaining coupon amount to foreign investors, the company says.

Eurobonds (ISIN: XS2082937967) were placed on November 19, 2019. The issuer was a special purpose company RusHydro Capital Markets DAC. The coupon rate paid twice a year is 6.8% per annum with the maturity of Eurobonds in November 2024. Eurobonds are listed on the Irish Stock Exchange according to Reg S rules.

PJSC "Federal Hydrogenerating Company - RusHydro" (TIN 2460066195) - unites 90 renewable energy facilities in Russia and abroad, thermal power plants and electric grid assets in the Far East, as well as energy marketing companies and research and design institutes. The amount of the authorized capital of the company is 426.289 billion rubles.

The net profit of PJSC RusHydro according to RAS for 9 months of 2021 increased by 3% to 43.9 billion rubles, EBITDA – by 5% to 75.8 billion rubles. compared to a year earlier. The company's equity increased by 2% to RUB 905.8 billion. Revenue increased by 9% and amounted to 114.7 billion rubles.

RusHydro's profit under IFRS for 2021 decreased by 9.7% to RUB 42.08 billion from RUB 46.6 billion a year earlier. Adjusted net profit amounted to 784 billion rubles. The profit due to shareholders amounted to 41.6 billion rubles against 46.35 billion rubles. Total revenue increased by 7.1% to RUB 460.03 billion from RUB 382.8 billion. EBITDA increased by 1.6% to RUB 122.2 billion.