Sistema expects that it will not require to repay debt

© RIA Novosti / Ramil to Setdiscoverable in fotobounce company AFK Sistema. Archival photoSistema expects that it will not require to repay debt© RIA Novosti / Ramil to Setdiscoverable the image Bank

AFK «System» expects that lenders will not demand early repayment of obligations in connection with tenderton loan Corporation 8.9 billion rubles, said senior Vice President, head of Finance and investment complex of Sistema JSFC Vsevolod Rozanov.

On Monday, AFK Sistema reported a technical default on credit obligations in an amount equivalent to 8.9 billion rubles. Techdepot came because of the arrest belonging to the AFC and JSC «Sistema-invest» 31,76% of MTS shares, 100% shares of the group and 90,47% of the shares of BESK, in a dispute with «Rosneft» «Bashneft». In the AFC noted that the default is a mere formality — the Corporation will maintain its credit obligations in full.

«As part of the ongoing dialogue with creditors AFK «System» has sent banks requests for waiver of rights arising from technical default. At the moment we have no reason to believe that any of our creditors will impose the following requirement on early redemption of obligations under loan agreements» — are in the message words of Rozanov. According to him, the financial position of AFC remains stable.

The President of Corporation Michael Shamolin has said that AFK «System» «will do everything possible to ensure a fair verdict and to minimize any negative consequences of the claim for the Corporation, its investors and all stakeholders».

AFK «System» till the end of 2014 owned controlling stake of «Bashneft». «Rosneft», «Bashneft», Bashkortostan arbitration court demanded to collect from «the System» and her «daughter» is 170.6 billion rubles in favor of «Bashneft», in assessing such a sum the losses in the case of reorganization of the Bashkir oil company. Initially, the amount of the claim amounted to 106,6 billion, then it was increased to is 170.6 billion rubles taking into account the incident of the weakening of the ruble. «The system» for its part, has repeatedly stated the groundlessness of the claims.

Last week the Arbitration court of Bashkiria has partially satisfied the claim of «Rosneft» to AFK «Sistema», recovered 136,3 billion rubles in favor of «Bashneft». The decision will come into force in a month, if the defendants do not appeal against it. «System», however, already declared intention to appeal the decision.

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