Russia’s largest mobile operator MTS has issued a ten-year Rbs10bn (US$316.16m) bond – its first ever exchange-traded rouble bond.
Placed on the Moscow Interbank Currency Exchange (MICEX), the bond carries a coupon of 8.25% to be paid semi-annually,…
Russia’s largest mobile operator MTS has issued a ten-year Rbs10bn (US$316.16m) bond – its first ever exchange-traded rouble bond.
Placed on the Moscow Interbank Currency Exchange (MICEX), the bond carries a coupon of 8.25% to be paid semi-annually, the Moscow-based company said in a statement. Bondholders are entitled under a five-year put option to sell their investments back to MTS.
The company said the issue, the books for which closed on 29 March, was oversubscribed.
VTB Capital, Sberbank and UniCredit were lead arrangers for the bond, to be listed on MICEX’s A1 quotation list. Sberbank also acted as placing agent.
Proceeds are for general corporate purposes.
Last month, MTS said in regulatory filing that it intends to offer Rbs30bn (US$969m) of 10-year and 15-year bonds. A company spokesperson confirmed the new issue forms part of the offering, but declined to comment on when the next might take place.
MTS reported consolidated revenues of US$12.44bn for 2012, up 1% year-on-year. Consolidated adjusted OIBDA for the year was up 3% to US$5.3bn with a 42.6% adjusted OIBDA margin. Net debt as of 31 December 2012 stood at US$6.78bn.
