Sistema announced tehtavate debt of 4 billion RUB due to seizure of assets

Sistema announced tehtavate debt of 4 billion RUB due to seizure of assets


Moscow. July 17. INTERFAX.RU – AFK Sistema has announced the occurrence of a technical default on credit obligations in the amount of about 3.9 billion rubles in connection with the arrest of shares of the Corporation in the trial with “Rosneft” and “Bashneft”, the message reads AFK.

A technical default is associated with the violation of the Covenant of the seizure of assets. As explained to “Interfax” in the AFC, the Covenant in question provides that the seizure of assets by a certain amount is an event of techdepot.

“Since July 17, will be violated by the conditions of the seizure of assets worth more than $25 million of a Particular transaction do not comment, it is small in terms of the agreement,” – said “Interfax” the representative of the “System” Sergey Kopytov.

“We do not expect the presentation of creditors on early repayment of these obligations, since ROS serves and plans to serve all its obligations timely and in full volume”, – he said.

“AFC continues to work to remove seizure of the assets”, – said the representative of “the System”.

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