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DTEK Finance B.V. 44RQ DTEK raised EUR 416 million



  DTEK Finance B.V. (44RQ) - DTEK raised EUR 416 million

RNS Number : 0159P
DTEK Finance B.V.
18 October 2012
 



 

 

                                       

                         DTEK raised EUR 416 million

 

Kyiv, October 18, 2012 - DTEK signed an agreement for a syndicated credit line
of a total  amount of EUR  416 million arranged  by Sberbank CIB,  Gazprombank 
(Open Joint Stock  Company), ING Bank  NV and UniCredit  Bank Austria AG.  The 
facility has two tranches with tenors of three and five years, respectively.

Funds received from the  syndicated loan will be  directed to DTEK  production 
facilities to finance modernization programs and for other purposes.

ING Bank NV  acted as  documentation agent and  UniCredit Bank  Austria AG  as 
information agent.

"DTEK's production  facilities  require  modernization. It  is  the  Company's 
responsibility to ensure necessary funds  are available for investment,"  said 
Vsevolod Starukhin, DTEK's CFO. "Taking  into account the banks'  conservative 
policies on lending for production, this syndicated facility once again proves
the effectiveness  of  DTEK's management  system  - the  transparency  of  our 
business, stability  of our  business  processes and  the reliability  of  our 
results. We are focused on long-term cooperation with banks and interested  in 
expanding the  range  of financial  instruments  that  allow us  to  fund  the 
Company's strategic projects."

Reference

DTEK is  the largest  energy company  in Ukraine.  The Company  is the  energy 
division of  System  Capital  Management  (SCM).  DTEK's  enterprises  operate 
effectively in  coal  mining  and  preparation,  and  electricity  generation, 
distribution, and sales.

DTEK's portfolio of  coal assets  includes 31  mines and  12 coal  preparation 
plants in Donetsk, Dnipropetrovsk and Luhansk regions of Ukraine and in Rostov
region of the  Russian Federation.  In 2011, DTEK's  Ukrainian mines  produced 
more than 37 million tons of coal.

The generation  segment is  represented by  10 thermal  power plants  and  two 
combined heating and  power plants  with more than  18 GW  of total  installed 
capacity. DTEK's  generation  enterprises  are located  in  seven  regions  of 
Ukraine and the  capital (Kyivenergo  generates and  supplies electricity  and 
heating to Kyiv).

DTEK's electricity distribution  and sales segment  includes five  enterprises 
that collectively supply power to  approximately 4.5 million customers -  both 
individuals and legal entities.

DTEK Trading sells energy products in domestic and international markets. Coal
exported by DTEK Trading is consumed  by power plants, coking plants and  iron 
and steel works in Ukraine as  well as power plants and industrial  facilities 
in Europe, Asia, North and South America and Africa. The Company also  exports 
energy to Hungary, Slovakia, Romania, Poland, Moldova, and Belarus.

DTEK's consolidated  revenues  in  2011  amounted to  UAH  39.6  billion;  the 
Company's net profit totaled  UAH 3.5 billion.  DTEK  paid UAH 5.6 billion  in 
taxes in 2011.

For more information, please visit www.dtek.com.

 

Sberbank CIB. The Corporate & Investment Banking Business was created as  part 
of the integration of Sberbank of Russia and Troika Dialog. Sberbank CIB's key
areas of activity are corporate financing, investment banking services,  trade 
operations with securities, and alternative investments. Sberbank of  Russia's 
Corporate  &  Investment  Banking   Business  provides  integrated   financial 
solutions and investment advisory services to its clients, which include major
corporations,  financial  institutions,  sovereign  states  and  federal   and 
sub-federal government  bodies  and organisations.  Sberbank  CIB is  part  of 
Sberbank of Russia's Corporate Business Block.

Gazprombank (Open Joint Stock  Company) is the third  largest Russian bank  in 
all major indicators, as well as the third largest bank in Central and Eastern
Europe in  terms of  equity. Gazprombank  has an  investment grade  rating  by 
Moody's Investor's  Service  and holds  a  long-term rating  of  Baa3,  stable 
outlook. Long-term counterparty  ratings on  debt and borrowings  of the  Bank 
assigned by Standard & Poor's are  BBB-, with a stable outlook. The  extensive 
regional network of Gazprombank represented 43 branches and three subsidiaries
of Russian  banks. Gazprombank  also has  a  stake in  three foreign  banks  - 
"Belgazprombank"   (Belarus),   "Areximbank"    (Armenia)   and    Gazprombank 
(Switzerland) in Zurich.

ING Group is an international financial institution based in the  Netherlands, 
providing  banking,  investment  services,   life  insurance  and   retirement 
services. ING Group employs  more than 94,500 people.  It serves more than  85 
million private, corporate and institutional clients in more than 40 countries
in Europe, North  America, Latin  America, Asia  and Australia.  In 2011,  ING 
Group ranked 17th  in the  "Fortune's Global  500" .  ING Group  has two  main 
divisions: (a) banking, and (b) Insurance / Investment Management. The banking
unit of ING  Group -  ING Bank  - is  subdivided into  Commercial Banking  and 
Retail Banking. Going forward, ING Group will seek to strengthen its  position 
as an international retail, direct and commercial bank. ING Commercial Banking
is presented in  Ukraine since 1994,  ING Bank Ukraine  today offers the  full 
range of  corporate banking  products and  services with  the support  of  ING 
Commercial Banking and ING network in Central and Eastern Europe.

UniCredit Bank Austria AG  is part of UniCredit  Group, a major  international 
financial institution, which  operates in  22 European  countries and  employs 
more than 160,000 employees. UniCredit Group holds leading market positions in
Italy, Germany, Austria, and also in  other countries of Central and  Eastern. 
UniCredit operates the largest  international banking network  in the CEE  and 
operates over 4,000 branches and offices. The Group operates in the  following 
CEE countries: Azerbaijan,  Bosnia and Herzegovina,  Bulgaria, Croatia,  Czech 
Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland,
Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

Sberbank (Switzerland) AG became part of the Sberbank group in December  2011. 
The bank is expanding  its business in Europe  such as syndicated lending  and 
trade finance, as well as other products for corporate clients.

Contacts:
Alyona Semykina

Head of IR, DTEK

tel +38 (044) 581 45 22

SemykinaAG@dtek.com

 

 

Some of the information in this press release may contain projections or other
forward-looking estimates  regarding future  events  or the  future  financial 
indicators of DTEK. The fact that a particular measurement is forward  looking 
is indicated by  the use  of terms  such as  "expect", "appears",  "forecast", 
"estimated",  "intend",  "will",  "could",   "may"  or  "might"  and   similar 
expressions. We  would like  to caution  you that  these statements  are  only 
predictions and that actual events or results to differ materially from  those 
projected. We do not intend to  update these statements to reflect events  and 
circumstances occurring  after the  date hereof  or to  reflect not  projected 
event. Many factors could cause the  actual results to differ materially  from 
those contained in  our projections or  forward-looking statements  including, 
among others, general economic conditions, our competitive environment,  risks 
associated with operating in Ukraine, rapid technological and market change in
our sector as well as many other risks specifically applicable to DTEK and its
activities.

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
DOCLLFLFIVLTLIF -0- Oct/18/2012 12:15 GMT
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