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Sistema takes out syndicated loan

03.06.2008 - RBC

Sistema takes out syndicated loan

Sistema Financial Corporation has raised a $613.3m syndicated loan to refinance investment in the development of its telecommunications business in India, a source close to the deal told RBC today. The syndication is nearing completion, and the remaining documents are likely to be signed on Wednesday or Thursday. The loan was taken out from ABN Amro. In addition, the Indian telecommunications service provider Shyam Telelink, in which Sistema holds a 72-percent stake, has secured a $160m loan.


Issuer profile: The corporation was established in 1993. Today, it owns and manages a diversified portfolio of investments in various sectors, with core assets in telecommunications (MTS, MGTS, MTU-Inform, Telmos, Golden Line, Comstar, etc.); technology (NIIME & Mikron Plant, Strom-Telecom, Sitronics, etc.); insurance (ROSNO); and real estate (Sistema-Hals), and ventures in several other business areas, including travel and tourism (Intourist), retail (Detsky Mir), and banking (MBRD). As at the end of the first six months of 2003, Sistema’s asset base exceeded $5.5 billion.
Outstanding issues:
  1 issue(s) outstanding worth USD 350 000 000
  1 issue(s) outstanding worth RUR 6 000 000 000
Issuer's rating:
Moody's Ba3/Positive Int. Scale (foreign curr) 10/24/2007
National Rating Agency AA National scale (Russia) 02/15/2007










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