Sistema refinances Sberbank loans
Moscow, Russia – 11 July 2018 – Sistema PJSFC (“Sistema” or the “Company”, together with its subsidiaries, “the Group”) (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company, today announces the refinancing of three loans from Sberbank PJSC totalling RUB 24 bn and maturing in 2019-2020 as a result of the signing of a new agreement with Sberbank for a RUB 24 bn unsecured loan with a tenor of three years.
Vladimir Travkov, Sistema’s Vice President and Chief Financial Officer, said, “Optimization of our debt portfolio remains the primary focus of Sistema’s management. This new agreement with our long-standing partner Sberbank allows us to reduce interest rates and increase the duration of the debt portfolio, making for a more comfortable debt repayment schedule.”
For further information, please visit www.sistema.com or contact:
Phone: +7 (495) 730 66 00
Phone: +7 (495) 228 15 32
Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, children’s goods retail, paper and packaging, healthcare services, agriculture, high technology, banking, real estate, pharmaceuticals and hospitality. The company was founded in 1993. Its revenue in 2017 was RUB 704.6 bn; its total assets equalled RUB 1.1 trn as of 31 December 2017. Sistema’s global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on Moscow Exchange. Website: www.sistema.com.
The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.