Sistema is the publicly-traded
diversified holding company in Russia and the
Established in 1993, today Sistema is a large private investor
operating in the real sector of the Russian economy. Sistema's
investment portfolio comprises stakes in predominantly Russian
companies from various sectors of economy, including
telecommunications, utilities, retail, high tech, pulp and paper,
pharmaceuticals, healthcare, railway transportation, agriculture,
finance, mass media, tourism, etc. Sistema is the controlling
shareholder in most of its portfolio companies. Sistema's competencies
focus on improvement of the operational efficiency of acquired assets
through restructuring and attracting industry partners to enhance
expertise and reduce financial risks.
Sistema's global depository receipts are listed under the symbol "SSA"
on the London Stock Exchange (1 GDR is 20 ordinary shares) and the
ordinary shares are listed under the symbol "AFKS" on the Moscow
31/03/2017 Sistema closes order book on RUB 15 bn series 001P-06 exchange-traded bonds
Moscow, 31 March 2017. – Sistema PJSFC (LSE: SSA, MOEX: AFKS)
(“Sistema”) announces that on 30 March 2017 it successfully closed the
book on its series 001P-06 exchange-traded bond issue with a nominal
value of RUB 15 bn, as part of its Exchange-traded Bond Programme. The
rates for coupons 1-10 were set at 8.90% p.a.
The bonds mature in 10 years, but bondholders are provided with put
options exercisable five years after the date of placement. The coupon
period is 182 days. The nominal value of the bonds is RUB 1,000.
The initial guidance for the first coupon was set at a range of
9.00%-9.15% p.a., implying a yield to put option at 9.20%-9.36%.
During book building, the initial range was first narrowed to
9.00%-9.10% (a yield of 9.20%-9.31%) and then lowered twice, with the
final range being 8.90%-8.95% (a yield of 9.10%-9.15%).
Strong interest from investors in Sistema's bonds and good timing to
come to market facilitated oversubscription of the issue and closing
the book with a coupon rate of 8.90% p.a. (a yield to put option of
During book building, more than 30 applications were received from a
wide range of investors, including banks, asset managers, investment
companies and insurance companies. The aggregate demand for the bonds
exceeded RUB 25 bn.
“We are satisfied with the results of the placement. The coupon rate is
the lowest among the market placements by corporate issuers with an
international rating below sovereign rating since the end of 2013. The
increased demand for our debt securities once again confirmed the high
assessment of Sistema's credit quality among fixed income investors.
This placement of Sistema bonds is aimed at further optimising the
Corporation's debt structure, reducing the cost of borrowing, and
increasing the share of long-term liabilities,” said Vsevolod Rozanov,
Sistema Senior Vice President and CFO.
UniCredit Bank, BCS GM, Promsvyazbank, Rosselkhozbank and Sberbank CIB
are organisers of the bond issue. Co-organisers: MTS Bank and East West
United Bank S.A.
Placement agent: UniCredit Bank.
Technical placement of the issue is planned for 7 April 2017 on Moscow Exchange.
For further information, please visit www.sistema.ru or contact:
Phone: +7 (495) 730 66 00
Phone: +7 (495) 228 15 32