Russian telco MegaFon has launched two 10-year bond issues to raise up to Rbs20bn (US$651.9m) in total.
The Moscow and London-listed company announced today that subsidiary MegaFon Finance has opened the books for both rouble-denominated tranches.
Both…
Russian telco MegaFon has launched two 10-year bond issues to raise up to Rbs20bn (US$651.9m) in total.
The Moscow and London-listed company announced today that subsidiary MegaFon Finance has opened the books for both rouble-denominated tranches.
Both bonds will have a term of 3640 days (nearly 10 years) and a five-year put option, according to the statement.
The coupon range is expected to be between 8% and 8.25% per annum.
Proceeds are to be used for general corporate purposes, including the refinancing of existing debt.
Books are set to close on 6 March and placement will occur around 13 March.
The notes are expected to be admitted to trading on MICEX’s unlisted securities section.
Lead managers for the bonds are Raiffeisenbank, Sberbank and VTB Capital. Sberbank is also acting as placement agent.
