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Sistema JSFC

July 30, 2018

Sistema secures credit facility from Otkritie Bank to refinance RDIF/Gazprombank loan

Moscow, Russia – 30 July 2018 – Sistema PJSFC (“Sistema” or the “Company”) (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company, announces the signing of a ñooperation agreement with Otkritie Bank, under which Sistema has attracted an unsecured RUB 15 bn loan maturing in July 2021. The new credit facility and the use of the Company’s own funds in the amount of RUB 5 bn allowed the Company to complete repayment of the 180-day RUB 40 bn loan arranged by the Russian Direct Investment Fund (RDIF) and financed by Gazprombank in February 2018 for the execution of obligations under the settlement agreement with PJSOC Bashneft, Rosneft and the Republic of Bashkortostan. Prior to that, in the first quarter of 2018, RUB 20 bn of the RDIF/Gazprombank facility were refinanced using a line of credit from Sberbank. Sistema thanks the RDIF for its assistance in the execution of the settlement agreement.

Vladimir Travkov, Sistema Vice President and Chief Financial Officer, said:

“We’re pleased to begin a multifaceted cooperation between Sistema and its subsidiary companies and Otkritie Bank in the areas of financing for ongoing business and investment activities as well as capital markets. Securing the Otkritie Bank loan removes the pledge from Sistema’s shareholding in PJSC Detsky Mir (52.099%), lengthens the tenor of the Company’s debt portfolio and establishes a more manageable repayment schedule. Drawing on the Company’s own funds to redeem the RDIF/Gazprombank loan also allows us to reduce Sistema’s debt load.”


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