Home  Issuers' Corner  Press Releases  Financial Corporation "Sistema"
CLOSE

Press Releases > Financial Corporation "Sistema"  all about the company

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

February 19, 2018

Sistema signs agreement on financing arranged by RDIF for Settlement Agreement

Moscow, Russia – 19 February 2018 – Sistema PJSFC (“Sistema” or the “Corporation”) (LSE: SSA, MOEX: AFKS) a publicly traded diversified Russian holding company, announces that it has signed an agreement on financing arranged by the Russian Direct Investment Fund (RDIF) for the execution of the Corporation’s obligations under the Settlement Agreement with PJSOC Bashneft, Rosneft and the Republic of Bashkortostan (“the Settlement Agreement”).

The RDIF and Gazprombank will grant Sistema a targeted credit facility in the amount of RUB 40 billion for a period of 180 days. The credit agreement is secured by 52.099% of the ordinary shares of PJSC Detsky Mir and 90.47% of the share capital of JSC Bashkirian Power Grid Company (“BPGC”). The agreement also includes the option of early repayment.

As per the terms of the loan agreement, without the approval of the creditors Sistema has the right to carry out investment activity and to pay dividends using part of the funds received from the monetisation of its assets; with the approval of the creditors, it has the right to carry out investment activity and to pay dividends using funds from other sources.

Sistema thanks the RDIF for its efforts in achieving a resolution of the dispute, and both the RDIF and Gazprombank for their effective partnership and comprehensive support during the financing process.

***

For further information, please visit www.sistema.ru or contact:

Investor Relations

Yury Krebs

Tel.: +7 (495) 730 66 00

y.krebs@sistema.ru

Press Service

Sergey Kopytov

Tel.: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z



Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer