23.09.2016

DTEK Energy is to transfer USD 436 mln of debt

Kyiv, 22 September 2016

As part of the restructuring of its loan portfolio, the Operating Company DTEK Energy is transferring the Obukhovskaya Mine Office (located in the Russian Federation) along with USD 436 mln of related debts into the direct control of the Strategic Holding DTEK. This transaction will help reduce the total amount of debt of DTEK Energy and therefore contribute towards the improvement of the Company's financial performance.

The above-mentioned debts have been transferred to the Obukhovskaya Mine Office which will from now on be fully servicing the debts at stake using its own cash flows. The term of the debt repayment is five years, unless subsequently extended by an additional five years.

The transaction helps reduce DTEK Energy's debt portfolio amount by 17%, which will contribute towards the improvement of the Operating Company's financial performance and strengthen its balance sheet.

'It's important for us to balance financial capacities of DTEK Energy between debt service obligations and investments in operations. Raising debt considerably helped increase our capital investments in retrofits and new capacities', said Maxim Timchenko, CEO of DTEK. 'In 2012-2013, was invested USD 2.6 bln in operations, and thanks largely to that, we managed to ensure sustainability of our activities and the entire energy system of the Ukraine in such challenging times.'

Obukhovskaya Mine Office includes Mine Office Obukhovskaya OJSC, Donskoy Anthracite OJSC and Sulinanthracite LLC.

In 2014, DTEK completed the formation of a business management system. Strategic holding DTEK B.V. is the 100 % owner and performs general management of three operating companies: DTEK ENERGY B.V., which manages coal mining, thermal power generation and distribution assets, DTEK RENEWABLES B.V., which manages alternative energy assets, and DTEK OIL&GAS B.V., which manages gas production assets.

DTEK Zakhidenergo PJSC published this content on 23 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 September 2016 14:13:07 UTC.

Original documenthttp://www.dtek.com/en/media-centre/press-releases/details/dtek-energy-is-to-transfer-usd-436-mln-of-debt

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