JSB Orgresbank is under-writer of the bonds issued by OGK OJSC

06.07.2007

JSB Orgresbank is under-writer of the bonds issued by OGK OJSC

OGK-2 OJSC placed its bonds on July 5, 2007. Following the results of the contest the rate of all bond coupons was established at the level of 7.70% per annum which corresponds to effective yield to maturity amounting to 7.85% per annum. The Second Wholesale Electric Power Generating Company OJSC completed placement of its bonds.

 The nominal amount of an issue of bonds emitted by OGK-2 OJSC was RUR 5 billions with the maturity term of 3 years. In the course of placement 61 investor bids were made, at the auction the total demand exceeded the supply in 1.5 times.

 The arranger of the bond issue was NOMOS-BANK, co-arrangers for the issue were VTB, the Bank of Moscow and Khanty-Mansyjsky Bank; the under-writers – Drezdner Bank, EVROFINANS MOSNARBANK, Bank Credit Swisse, Reiffeisenbank, Alfa-Bank, NOVIKOMBANK, ORGRESBANK, Promsvyazbank, Investment Company “Settlement Stock Center” (IK RFC), Soyuz Bank, Sudostroitelny Bank; co-under-writers were Financial Corporation URALSIB,  Financial Corporation Fonika Finans; JP Morgan participated in the bond placement.

The funds received from bond placement will be predominantly assigned to refinance loans as well as to continue financing the company investment projects.

OGK-2 OJSC is one of six heat generating companies established under the restructuring of RAO UES Russia OJSC. OGK-2 OJSC is ranked 3-rd among heat generating companies by installed capacity volume ( 8.695 megawatt) and second – by production and  annual capacity factor (63% as of the end of 2006). 80.93 % of the company shares are owned by RAO UES Russia OJSC. The company turnover according to 2006 results amounted to RUR 8.259 billions; the net profit was RUR146.5 millions.


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