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
"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."
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.
Head of IR, DTEK
tel +38 (044) 581 45 22
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
This information is provided by RNS
The company news service from the London Stock Exchange
DOCLLFLFIVLTLIF -0- Oct/18/2012 12:15 GMT
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