Sistema signs deal to refinance 24 bln rbl loans with Sberbank

MOSCOW, Jul 11 (PRIME) -- Multi-industry holding Sistema has signed an agreement with Russia’s biggest lender Sberbank to refinance three loans worth 24 billion rubles, with new, three-year maturity, the company said in a statement on Wednesday.

Sistema Vice President and Chief Financial Officer Vladimir Travkov said, as cited in the statement, “Optimization of our debt portfolio remains the primary focus of Sistema’s management. This new agreement with our long-standing partner Sberbank allows us to reduce interest rates and increase the duration of the debt portfolio, making for a more comfortable debt repayment schedule.”

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