OREANDA-NEWS. December 23, 2010. Sistema (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in, and is a major shareholder of, companies operating in different industries, announced that its Board of Directors has approved a RUB 19.5 billion issue of five-year unconvertible interest-bearing series 04 bonds. The decision was taken at a meeting of the Board of Directors, reported the press-centre of Sistema.

The proceeds of the placement will be used to refinance Sistema’s existing debt facilities.
 
The bond issue will not alter Sistema’s current total debt position.