Bashneft reports about possible acceleration of its loan repayments because of change of shareholder

A part of Bashneft’s loans may be claimed prematurely because of breach of covenants due to the change of the controlling shareholder, the company’s report under IAS says.

This may occur as a result of a decision, taken by the Commercial Court of Moscow on the return of the Bashneft’s shares, belonged to Systema and Systema-Invest, to the state, the oil company explains.