MOSCOW, April 11 (RIA Novosti) - WGC-5, a Russian electricity generating company based in the Urals, announced Tuesday plans to place 5 billion rubles ($180 million) in bonds in 2006.
The company said it intended to use the funds to refinance its banking credits and to finance a number of construction and modernization projects.
WGC-5 was formed in Yekaterinburg in 2004 on the basis of four power plants, as part of the divestment of Russian electricity monopoly Unified Energy System's generating assets.
The decision to establish the company was taken by the UES board at a meeting on 3 September 2004.
The company's stock is traded on both MICEX and the RTS.
Deutsche Bank launched a GDR program on the London and Frankfurt exchanges for WGC-5 in September 2005 as a measure to boost the company's capitalization and attract investors.
