AFK Sistema will only borrow to finance specific deals as it seeks to further reduce debt this year, chief financial officer Alexei Buyanov said Wednesday.
“Borrowing this year will be subject to viable transactions,” Buyanov said.
“We are looking at all instruments” for raising money, he said. “Right now, we think the more attractive is credit straight from banks.” Sistema’s 19 billion rubles ($646 million) of bonds putable in November 2012 yielded 7.49 percent at 1:48 p.m. in Moscow on Wednesday, unchanged from Tuesday and the lowest this year.
(Bloomberg)
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