Press Release
06 August 2012

Goltsblat BLP, the Russian practice of Berwin Leighton Paisner (BLP), advised JSC INTER RAO UES  on the loan agreement with European Bank for Reconstruction and Development (EBRD) for a 9.6 billion rubles 5-year convertible loan with a floating interest rate equal to 8.81% per annum as of the date of signing.
The loan agreement and all transaction documentation are governed by English law.
EBRD will have an option to convert the loan into common shares of INTER RAO UES Group within 4.5 years after disbursement.
Cooperation between INTER RAO UES Group and the EBRD within this project is not limited only to financing, but also implies implementation of a number of measures and initiatives aimed at improving corporate governance, environmental, health and safety standards, as well as increasing INTER RAO UES Group investor appeal.
Goltsblat BLP advised on the English and Russian law aspects of the overall transaction.
Simon Allan, partner, head of Banking & Finance at Goltsblat BLP, said: “It has been a pleasure to support JSC INTER RAO UES in this strategic project which also represents an important further step in the development of our business here in Moscow."

The transaction team was led by partner and head of Goltsblat BLP’s Banking and Finance Practice Simon Allan and Banking & Finance partner Oleg Khokhlov. The transaction also involved partners Andrei Baev and Philip Whale in London, senior associate Tatiana Parshak and associates Martin Lambe and Igor Zhivotov.

For additional information, please contact:

Ksenia Soboleva                 tel:  +7 495 287 44 44
Marketing and Communications Manager      mob.:  +7 965 125 03 73

Notes to editors
Goltsblat BLP is the Russian practice of Berwin Leighton Paisner (BLP), an award-winning international law firm with offices in London, Moscow, Abu Dhabi, Berlin, Brussels, Frankfurt, Hong Kong, Paris and Singapore, including more than 800 lawyers worldwide.

In Moscow, Goltsblat BLP has 100 lawyers, qualified under Russian and English law.  The highly respected Moscow team has over 20 years of experience, providing legal support for major Russian businesses, as well as multinationals implementing large-scale investment projects in Russia.  The Moscow-based international team at Goltsblat BLP provides transaction support for Russian and global investments by both Russian and international clients.
Globally, the Goltsblat BLP’s expertise reaches across more than 50 legal specialisations and 20 industry sectors.
Goltsblat BLP currently  has over 700 clients among the major international investors operating in Russia, including 23 Fortune 500 companies, leading Russian and international financial institutions, and Russian corporate leaders in the national market.

Goltsblat BLP is the winner of the Legal Business Award 2010 (Legal 500) for International Office of the Year, Chambers Europe Award for Excellence 2010 in the Client Service category for best client service among law firms in Russia, Best Law Firm in Russia - 2010 ILO Client Choice Award,  Effective HR Management category at the Annual Law Firm Awards by the Legal Success magazine - “Best Motivation of Employees” among law firms in Russia.   www.gblplaw.com 

INTER RAO UES Group is a diversified energy holding working in various segments of Russian and international electric power industry. INTER RAO UES is a leading exporter and importer of electric energy in Russia actively increasing electricity generation and sales, and developing new lines of business. INTER RAO UES focuses its corporate strategy on making the company a global energy enterprise and a key player in the international energy market. INTER RAO UES Group owns and operates approximately 28,000 MW of installed power generating capacity www.interrao.ru 

The European Bank for Reconstruction and Development was established in 1991. The EBRD shareholders are 63 countries, including Russian Federation, as well as two intergovernmental institutions – the European Union and European Investment Bank. The EBRD supports projects in 29 countries from central and eastern Europe to central Asia and currently is expanding its operations to north Africa.



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