9th Mar 2011 15:45
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES
SISTEMA BOARD OF DIRECTORS APPROVES PURCHASEOF SERIES 02 AND 03 BONDS
Moscow, Russia - March 9, 2011 - Sistema JSFC (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announced that its Board of Directors has approved the purchase of up to 19.5 billion rubles of Series 02 bonds (five-year non-convertible bonds) and Series 03 bonds (seven-year non-convertible bonds) via a Russian-law tender offer. Sistema will simultaneously issue Series 04 bonds (five year non-convertible bonds, described in the release on December 21, 2010) in the same amount.
As a result of these transactions, Sistema's outstanding indebtedness will not increase, but the maturity of Sistema's existing bond portfolio will be extended.
The purchase of the Series 02 and Series 03 bonds is expected to close on March 22, 2011.
VTB Capital acted as Sole Agent and Arranger for the purchase of the Series 02 and Series 03 bonds.
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For further information, please visit www.sistema.com or contact:
| Investor Relations | Public Relations | |
| Evgeniy Chuikov | Vsevolod Sementsov | |
| Tel.: +7 (495) 692 1100 | Tel: +7 (495) 730 1705 | |
Sistema is the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 7.3 billion for the third quarter of 2010, and total assets of US$ 42.0 billion as at September 30, 2010. Sistema's global depository receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the symbol "AFKS" on the RTS Stock Exchange, under the symbol "AFKC" on the MICEX Stock Exchange, and under the symbol "SIST" on the Moscow Stock Exchange (MSE).
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.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies.
Copyright Business Wire 2011
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