DJ Sistema PJSFC: Sistema attracts first ESG financing from Sberbank
Sistema PJSFC (SSA)
Sistema PJSFC: Sistema attracts first ESG financing from Sberbank
17-Nov-2020 / 10:00 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Sistema attracts first ESG financing from Sberbank
Moscow, 17 November 2020 - Sistema PJSFC ("Sistema" or the "Corporation")
(LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding
company, is pleased to announce that it has agreed with PJSC Sberbank to
open a RUB 10 billion framework credit line, with the option to tie the
interest rate on each loan to sustainability performance (Sustainability
Improvement Loan). The proceeds will be used for general corporate needs.
By entering this agreement, Sistema has committed to adopting its
Environmental Policy and integrating responsible investment principles into
its investment process. Sustainable development is an integral part of
Sistema's strategy, and will be established as one of the key benchmarks for
investment decision-making and asset management.
Vladimir Travkov, Sistema's Vice President for Finance, commented:
"The new agreement with Sberbank confirms our commitment to the principles
of sustainability and our readiness to promote the ESG agenda in Russia.
This is the first ESG loan deal between a Russian company and a Russian
bank, and we are pleased to be setting a new standard for responsible
investment in the country's economy."
Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank:
"ESG - Environmental, Social, and Governance - is a global development trend
behind effective and sustainable businesses. It's hard to overestimate its
importance for investors, customers, and the country in general. Sber is set
out with the aim to become an ESG leader. Therefore, the loan agreement with
our partner, the diversified holding company Sistema PJSFC, is extremely
important as a precedent for the evolution of market products that allow
stakeholders to capitalize on the principles of responsible business
development across verticals. We are going to keep developing ESG lending
for our customers who are introducing sustainable development approaches
pro-actively."
Background information
In 2019, Sistema launched a comprehensive review of its sustainability and
responsible investment management. The Board of Directors of the Corporation
approved an ESG action plan to improve the sustainability of the investment
portfolio, based on indicators of corporate governance, social and
environmental responsibility. In 2020, a new version of Sistema's Corporate
Governance Code, developed in line with international best ESG practices,
was approved. The same year, Sistema adopted its first Sustainability
Policy, providing clear guidelines for corporate responsibility?.
The transformation in Sistema's approach to its sustainability performance
has led to its improved standing in ESG ratings and indices. Since 2016,
Sistema has been one of the leaders in the sustainability indices of the
Russian Union of Industrialists and Entrepreneurs (RSPP) and, since 2019,
the Corporation's securities have been included in the composition of the
Moscow Exchange - RSPP ESG indices. Sistema has also been promoted to the
FTSE4Good index, upgraded its MSCI ESG rating to 'BB,' and has secured its
position in a number of other ratings.
***
IR Service Press Service
Nikolay Minashin Sergey Kopytov
Phone: +7 (495) 730 66 00 Phone: +7 (495) 228 15 32
n.minashin@sistema.ru kopytov@sistema.ru
***
Sistema PJSFC is a publicly traded diversified Russian holding company
serving over 150 million customers in the sectors of telecommunications,
technology, banking, retail, timber processing, agriculture, real estate,
tourism and healthcare services. The company was founded in 1993. In 2019,
its revenue was RUB 656.9bn; its total assets equaled RUB 1.3tn as of 31
December 2019. Sistema's global depositary receipts are listed under the
"SSA" ticker on the London Stock Exchange, and its ordinary shares are
listed under the "AFKS" ticker on Moscow Exchange. Website: www.sistema.ru
***
PJSC Sberbank is Russia's largest bank and a leading global financial
institution. Holding almost one-third of aggregate Russian banking sector
assets, Sberbank is the key lender to the national economy and one of the
biggest deposit takers in Russia. The Government of the Russian Federation
represented by the Ministry of Finance of the Russian Federation is the
principal shareholder of PJSC Sberbank owning 50% plus one voting share of
the bank's authorized capital, with the remaining 50% minus one voting share
held by domestic and international investors. Sberbank has customers in 18
countries. The bank has a major distribution network in Russia with about
14,000 branches, while its international operations - subsidiary banks,
branches, and chapters - include the UK, US, CIS, Central and Eastern
Europe, India, China, and other countries. It holds general banking license
No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of
the bank: www.sberbank.com [1] (Sberbank Group website), www.sberbank.ru
[2].
On September 24, 2020, Sberbank underwent a rebranding, offering financial
and non-financial services of the bank and Sberbank Group to individual and
corporate customers. Today, the Sber ecosystem is a raft of services for
life and daily assistance in handling pressing everyday issues for
individual customers and businesses. The Sber ecosystem website: www.sber.ru
[3].
ISIN: US48122U2042
Category Code: MSCM
TIDM: SSA
LEI Code: 213800JSZ2UUK4QQK694
Sequence No.: 87983
EQS News ID: 1148501
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 17, 2020 02:00 ET (07:00 GMT)
