Subsidiary of Russian utility RAO UES to sell $150 million notes via Citigroup

By Paul A. Harris

St. Louis, Feb. 14 - Inter RAO UES, a subsidiary of state-controlled Russian utility RAO UES (B+), plans to place a $150 million offering of short-term notes, according to a market source.

Citigroup will lead the deal.

Proceeds will be used to fund asset acquisitions.

Inter RAO UES is the international trading subsidiary of RAO UES. It holds export and import energy contracts with some Commonwealth of Independent States countries, the Baltic States and Finland, and has generation and distribution assets in Georgia, Armenia, Moldova and Tajikistan.

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