Sistema GDR Börsen Russische Besatzungszone
TASS, January 19. The international rating agency Fitch affirmed the long-term issuer default ratings (IDR) of AFK Sistema and its controlled operator MTS. As reported in the agency's press release, the outlook on the ratings of both companies is "negative".
The history of the lawsuits filed by Rosneft against AFK Sistema.
Dossier
In particular, AFK Sistema's rating was affirmed at 'BB-' and MTS 'rating at' BB + '.
According to the amicable agreement with Rosneft, AFK Sistema is to pay 100 billion rubles to Bashneft before the end of the first quarter of 2018. The agency's experts do not see any liquidity problems with AFK, as the company has already paid 20 billion rubles, and for the remaining part attracted borrowed funds.
AFK and MTS rated Fitch Ratings for review at the end of June 2017 after the court's decision to freeze the company's assets, including the stake in MTS, at the suit of Rosneft.
http://tass.ru/ekonomika/4887956
Aber die Beteiligungen laufen GUT.
AFK Sistema returns to the debt market
The company is going to borrow 10 billion rubles
January 22nd 18:21 Alexander Astapenko, Danis Yumabaev / Vedomosti
Sistema intends to place bonds for 10 billion rubles. with redemption in 2028, Interfax reported referring to the source and confirmed to Vedomosti one of the managers. Applications for the purchase of bonds the company will take on January 26, technical placement is scheduled for February 2.
The benchmark rate of the 1st coupon is at the level of 9.8-10.0% per annum, which corresponds to the yield to the annual offer at the level of 10.04-10.25% per annum. The placement is organized by GPB Bank, VTB Capital, Sberbank CIB, BCS Global, MTS Bank and East West United Bank.
A representative of Sistema confirmed that the company began collecting applications from investors. "Funds are raised for general corporate purposes," he confirmed, refusing further explanation.
Now in circulation there are six issues of AFK Sistema bonds for the total amount of 48.5 billion rubles. and one issue of Eurobonds for $ 500 million, follows from the data of Rusbonds. The last time the company conducted placement on the debt market in April last year.
AFK Sistema's decision to place bonds for 10 billion rubles. may be due to meeting the requirements for a settlement agreement with Rosneft, says Yakov Yakovlev, an analyst at Aton. The company, he recalls, has already stated that it will use borrowed funds to satisfy claims. "In addition to the requirements for the settlement agreement, Sistema has other liquidity needs related to the refinancing of the current debt," he adds.
The company, he recalls, has already stated that it will use borrowed funds to satisfy claims. "In addition to the requirements for the settlement agreement, Sistema has other liquidity needs related to the refinancing of the current debt," he adds.
The benchmark yield of the new issue roughly corresponds to the levels at which you can buy short bonds Sistema with an offer in October this year (yield to the offer on them is about 10.15%), says Yakovlev. "Most likely, the paper will find its demand - in the medium term, bond yields may decrease if the company successfully fulfills the terms of the amicable agreement and the history with claims of Rosneft will remain in the past," the analyst thinks.
In December, the Arbitration Court of Bashkortostan approved the settlement agreement between Rosneft, Bashneft and the government of Bashkiria with AFK Sistema and its subsidiary Sistema Invest.
Under the terms of the settlement agreement, Sistema has already paid Bashneft 20 billion rubles. Another 40 billion rubles. The company should transfer Bashneft until February 28. For these purposes, a short-term loan to Sistema will be issued by the Russian Direct Investment Fund (RFPI), the shares of the retailer Detsky Mir and BESK will act as a pledge, the general director of the RFPI, Kirill Dmitriev, said in December. The remaining 40 billion rubles. "Sistema" is due to be paid by March 30, 2018. The company uses a loan from Sberbank on the security of assets, the arrest of which will be withdrawn.
Under the condition of a recent trial with Rosneft, this bond issue is unlikely to be fully marketable, since the opening of limits on Sistema will take some time, Dmitry Potolenko, portfolio manager of Capital, believes: " Most likely, the company has already found an anchor investor" .
https://www.ft.com/content/26266004-efad-11e7-b220-857e26d1aca4
Henry Foy in Moscow January 3, 2018
§
For any company, a Rbs100bn ($1.7bn) payment demand would be hard to swallow. But for Russian conglomerate Sistema, the knowledge that it could have been a whole lot higher might make writing the cheque a little easier.
That is the price Sistema has agreed to pay to end a bitter, high-profile legal battle with state-controlled oil company Rosneft, which threatened to bring the group to its knees and sent a chill through Russia’s investment market.
Rosneft’s total demands against Sistema, which has businesses ranging from telecoms to retail, were $4.5bn, more than twice the group’s market capitalisation. Defeated in a series of court cases, the outlook was bleak.
No wonder investors gave a sigh of relief when the settlement was announced on December 22: Sistema’s shares rose more than 40 per cent in the following days.
But the deeper corporate unease over the grounds for the dispute, how the legal battle proceeded and the role played by politics, is likely to take longer to dissipate in a country where the power of state-owned companies and the perceived fragility of laws protecting private property have long given investors pause for thought.
“So this is the price for Sistema to be able to carry on doing business,” said a person with knowledge of the settlement talks. “It is a hard lesson, but it does allow all parties to move on, and hopefully will mean not all respect for [Russia’s] investment market has been destroyed.
”While the charges against Sistema were complex, the broad thrust was easy to grasp. Rosneft, the Kremlin’s most valuable corporate asset and its powerful chief executive Igor Sechin, the ebullient ally of President Vladimir Putin, versus Sistema, a modern, private conglomerate and its founder Vladimir Yevtushenkov. The battle was over a small, local oil producer: Bashneft.
Sistema owned Bashneft between 2006 and 2014, when it was seized by the state after an investigation found that it had been illegally privatised.
Rosneft, which denied that it had encouraged the nationalisation, and stressed that it had no intention of taking control of Bashneft, then bought the company in 2016.
Last May, Rosneft brought a lawsuit alleging that Sistema had used its ownership to strip assets from the company, and demanded compensation. Sistema denied the charges, and said that all its corporate actions were legal, documented and normal business practices.
This autumn, a series of regional court rulings agreed with Rosneft. So three years after Bashneft had been taken from the conglomerate, and Mr Yevtushenkov had been placed under house arrest, Sistema was ordered to pay billions of dollars to the new owner.
That the case was having an adverse impact on sentiment no doubt prompted the Russian state to help broker and finance a truce.
Mr Putin, who had called for an “amicable agreement” in September, talked to Mr Sechin and Mr Yevtushenkov a day before the deal was announced, and the country’s sovereign wealth fund agreed to lend Sistema $700m towards the payment.
“This compromise achieved meets both sides’ interests, sends a positive signal to the market and improves the investment climate in Russia,” the fund said.
But long-term concerns over investor protection are unlikely to disappear overnight. The agreement saved Sistema as much as $2.8bn and removed a major distraction for the market.
But it also affirmed Mr Sechin’s reputation as the country’s most powerful businessman, and reinforced the perception that venturing into Russian energy assets is only for the bravest investor.
Rosneft told the FT that the settlement mandates the parties to “restrain from any further claims regarding the disputable issues” after the $1.7bn is paid, and that the payment total was calculated to avoid the bankruptcy of Sistema and keep it “stable” and “profitable for Russian economy at large”. A Sistema spokesman declined to comment.
Such promises may elicit a wry smile from Mr Yevtushenkov, who is no stranger to assumed ceasefire.
After the state took control of Bashneft in late 2014, charges against him were dropped, he was invited to high-profile meetings at the Kremlin, and Mr Putin publicly wished Sistema well. Many investors and political analysts assumed that the company’s troubles were over.
“The danger is that we have been here before,” said the person briefed on the settlement talks. “Can we fully predict the future? I suppose it all depends on everyone sticking to their word.”henry.foy@ft.com
Dies unterstreicht nochmal, dass hier wieder bald mit steigenden KURSEN zu rechnen ist!!!!
The owner of AFK Sistema Vladimir Yevtushenkov refused to receive dividends for 4.2 billion rubles, this money will go to the development of the company. This is reported by Vedomosti with reference to a source close to the system. Evtushenkov himself confirmed the information.
Evtushenkov refused to pay dividends for nine months of last year. He told Vedomosti that the money saved would go to new purchases. "We are an investment company, we must invest," said Evtushenkov.
A source close to Sistema said that Evtushenkov himself told the company that he did not want to receive dividends. The law "On Joint Stock Companies" does not in any way describe the possibility of a shareholder to refuse to receive accrued dividends, the newspaper notes.
A large private investor noted that the saving of 4.2 billion rubles will not significantly affect the situation for Sistema. The manager of a large investment fund suggested that Yevtushenkov wants to help the company pay the world bill with Bashneft. One of Yevtushenkov's acquaintances said that his decision could be connected with the desire to "strengthen the morale of the team and investors," to show that he intends to move forward and develop the company.
AFK representative Sergei Kopytov declined to comment on Yevtushenkov's actions. He said that the top managers of the AFC voluntarily reduced their premiums by 50%. In addition, according to him, "System" refused to pay employees money on the program of long-term motivation. About what amounts in question, he did not specify.
After this bailiffs have removed the arrest of certain assets of AFK Sistema. It was noted that after this "System" will be able to receive more than 17 billion rubles in dividends from shares that were under arrest.
https://tvrain.ru/news/afk-455723/
"Sistema's management understands what serious tasks the company faces today. Therefore, top managers of AFK Sistema voluntarily also reduced their premiums for last year by 50%. In December 2017, the corporation also refused to pay employees for 2017 under the long-term motivation program, "the representative of the corporation said.
https://www.rbc.ru/business/23/01/2018/5a667c909a7947c1cc2a3b29
hatte eigentlich eingeplant, dass es etwas länger dauert.
Wer weiß wieviel Staat darin steckt.
Mir geht das ganze zu schnell.
http://www.akm.ru/eng/news/2018/january/24/ns5951751.htm
In dem Post vom 4.1. Hatte ich ja die Details geschickt
Jetzt wurde sie ja bekräftigt.
Passt mir garnicht ins Bild ...
OLIGARCHEN-BRÜDER ANANJEW
Ohne den Segen des Kremls
Die beiden Brüder gehörten einst zu den reichsten Russen. Doch jetzt verlieren die umtriebigen Geschäftsmänner ihr Bankenimperium. Und damit nicht genug: Den Milliardären droht sogar ein Strafverfahren.
Handelsblatt, André Ballin
25.01.2018 - 17:15 Uhr
Sehr viele Unternehmen die in den GUS & Indien tätig sind.
Moderation
Zeitpunkt: 30.01.18 15:09
Aktion: Löschung des Beitrages
Kommentar: Urheberrechtsverletzung, vollständige Quellenangabe fehlt
Zeitpunkt: 30.01.18 15:09
Aktion: Löschung des Beitrages
Kommentar: Urheberrechtsverletzung, vollständige Quellenangabe fehlt
http://www.interfax.ru/business/597493
According to Andrei Kochetkov, an analyst with the Broker opening news agency, the main risk for Russian participants in the stock market remains the next American restrictions, which can be announced earlier this week. If the United States restricts the possibility of buying Russian assets, then for the market this will be an unconditional reason for sales. Similar risks concern the ruble, which modestly strengthened its positions against the dollar. Accordingly, in the first half of the week, bidders will be cautious, and then the direction of movement in the Russian market will be determined by the content of new American restrictions.
Sistema ist viel mehr als Russland.
AFK Sistema places bonds worth 10 billion rubles
[ 05 Feb 2018 09:54] FinamBonds
AFK Sistema has placed bonds for 10 billion rubles, the organization said.
The company placed on open subscription 10 million bonds of the series 001Р-07. The nominal value of one security is 1000 rubles. Term of circulation of bonds is 10 years, an annual offer is put up.
The rate of the semi-annual coupon for the period until the offer on the basis of the collection of bids is set at 9.80% per annum. Initially, the indicative rate of the 1st coupon was announced in the range 9.80-10.00% per annum.
Bonds of the issue are placed within the program of exchange bonds with a volume of up to 100 billion rubles inclusive or the equivalent of this amount in foreign currency. Earlier, within the framework of this program, the issuer placed six issues in the amount of 48.2 billion rubles.
The head of AFC Vladimir Evtushenkov stressed that payments under the agreement of Rosneft will have a negative impact on the company, but it will survive
TASS, February 9. Tass. The company does not plan to reduce the remuneration of shareholders and change the dividend policy, said the head of AFK Sistema Vladimir Evtushenkov on the sidelines of the RSPP congress.
"Dividends are such small amounts that this is insignificant against the background of such high turnover, we are not planning to cut it," he said
Payments under the agreement of Rosneft will have a negative impact on the company, but it will survive, Yevtushenkov admitted. "Of course, it's bad, but we'll survive," he said.
In late December, Rosneft and AFK Sistema reached an amicable agreement under which Sistema will pay Rosneft 100 billion rubles in compensation for Bashneft's losses during the period when Sistema owned the company. In 2016, Rosneft received control of Bashneft. "Sistema" should complete the payment by March 30 and plans to do so at its own and borrowed funds.