Russia’s Rostelecom has announced its board of directors has approved bond issues valued at a total of Rbs100bn (US$3.5bn).
The bond issues will include exchange-traded bonds totalling Rbs60bn (US$2.1bn) with a term of three years and…
Russia’s Rostelecom has announced its board of directors has approved bond issues valued at a total of Rbs100bn (US$3.5bn).
The bond issues will include exchange-traded bonds totalling Rbs60bn (US$2.1bn) with a term of three years and exchange-traded bonds totalling Rbs40bn (US$1.4bn) with a term of five years, according to a statement.
The company said its executive management team will decide when the bonds will be issued, taking into consideration market conditions and the cost of alternative sources of financing.
The proceeds will be used to refinance existing debt as well as to finance “strategic objectives”.
Rostelecom had net debt of Rbs138.1bn (US$4.7bn) as of 30 September 2011.
