Russia’s Rostelecom is premarketing an Rbs5bn (US$155.96m) bond – the telco’s fourth this year under its Rbs100bn (US$3.12bn) bond programme.
The series 16 bonds will have a nominal value of Rbs1,000 (US$31.26) each and a maturity of five years. A…
Russia’s Rostelecom is premarketing an Rbs5bn (US$155.96m) bond – the telco’s fourth this year under its Rbs100bn (US$3.12bn) bond programme.
The series 16 bonds will have a nominal value of Rbs1,000 (US$31.26) each and a maturity of five years. A put option may be exercised after one year and there will be a coupon period of 182 days.
Order books are expected to open on Wednesday 5 June and close the next day.
VTB Capital, Gazprombank and Sberbank CIB will organise the placements.
Rostelecom has already placed three five-year bonds this year, two for Rbs10bn and one for Rbs5bn.
The Moscow-based company is also eyeing an Rbs10bn (US$312.64m) loan with VTB.
Last month, Rostelecom CEO Sergey Kalugin, who replaced Alexander Provatorov in March, said the company is considering selling more than US$500m of treasury stock to cut debt.
Rostelecom reported revenues of Rbs77.1bn (US$2.4bn) for Q1 2013, up 3% year-on-year. OIBDA stood at Rbs28.8bn (US$900.7m) and the OIBDA margin at 37.4%. Net debt as at 31 March totalled Rbs206.3bn (US$6.45bn) while the net debt/annualised OIBDA ratio stood at 1.8x.
