FGC to start meeting investors Nov 29 for potential ruble EMTN offering
MOSCOW. Nov 28 (Interfax) - Federal Grid Company UES (FGC) has appointed Barclays, VTB Capital and Sberbank CIB as organizers and global coordinators, and Gazprombank and Morgan Stanley as organizers of a series of meetings with investors on the European debt market that will begin on November 29, a market source told Interfax.
Depending on the market situation, the meetings with investors might be followed by the placement of ruble-denominated Euro Medium Term Notes under an EMTN program totalling 100 billion rubles that FGC plans to launch soon.
FGC, which is controlled by the state, owns and operates the power grid infrastructure of Russia's unified national power grid. FGC recently took over management of IDGC Holding, which includes eleven interregional and five regional distribution grid companies.