Sistema opens credit line with Sovcombank
Moscow, 2 April 2019 – Sistema PJSFC (“Sistema”) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, has signed an agreement for an unsecured credit line with PJSC Sovcombank, one of Russia’s largest private banks. The RUB 10 billion facility will allow Sistema to draw down credits with tenors of up to three years.
Vladimir Travkov, Vice President and Chief Financial Officer, said:
“Since the beginning of the year Sistema has not only returned to the public debt markets with two bond issuances of RUB 10 billion each – both of which were well received by investors – but has continued to expand bilateral cooperation with banks. We are pleased to be starting to work with Sovcombank, one of Russia’s top-5 private lenders. In combination with the funds we have raised on the public debt markets, the opening of an unsecured line of credit will give us additional flexibility to refinance the Corporation’s current debt portfolio.”
Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers in such sectors as telecommunications, retail, paper and packaging, agriculture, high technology, banking, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Its revenue in 2017 reached RUB 704.6 billion; its total assets equaled RUB 1.1 trillion as of 31 December 2017. Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange.
For further information, please visit www.sistema.com or contact:
Tel: +7 (495) 730 66 00
Tel.: +7 (495) 228 15 32