Moscow, 26 November 2019 – Sistema PJSFC (“Sistema” or the “Corporation”) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that it has signed new loan agreements with PJSC Sberbank of Russia (“Sberbank”) to further optimise the Corporation’s debt portfolio.
Under the agreements reached with Sberbank, the maturity of the RUB 59.3bn secured loan issued in February 2018 has been extended from 2023 to 2025. The loan is repayable during 2024 and 2025. The maturity of the RUB 24.0bn unsecured loan issued in July 2018 has been extended from 2021 to 2024.
Vladimir Travkov, Sistema’s Vice President for Finance and Investment, commented:
“The new terms of the loan agreements with Sberbank increase the duration of our debt portfolio, set a comfortable repayment schedule and reduce the interest rate. The new terms have become possible thanks to our long-term strategic partnership with Sberbank. These terms also reflect the strengthening of the Corporation’s financial position as it has succeeded in further diversifying its sources of funding, including through an active presence in public capital markets.”
Sistema is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2018 was RUB 777.4 bn; total assets equalled RUB 1.5 trn as of 31 December 2018. 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 the Moscow Exchange. Website: www.sistema.com
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