Russian mobile operator MegaFon is preparing to issue a eurobond to refinance the loan it secured in April with six international banks.
A MegaFon spokesperson confirmed the company is working on the prospectus for the issue and that its timing will…
Russian mobile operator MegaFon is preparing to issue a eurobond to refinance the loan it secured in April with six international banks.
A MegaFon spokesperson confirmed the company is working on the prospectus for the issue and that its timing will depend upon the London IPO it is also working toward. The spokesperson provided no further details.
MegaFon took out loans totalling about US$4.5bn ahead of a major ownership reshuffle late last month, which saw Alisher Usmanov’s AF Telecom acquire a controlling stake in the company.
A MegaFon spokesperson confirmed in April, prior to the ownership reshuffle announcement, that the company had agreed to extend the term of a six-month US$2bn bridge loan with three international banks – Citibank, BNP Paribas and Barclays – to a year.
The spokesperson also confirmed the company had taken out a US$1.5bn four-year loan with state-controlled Sberbank, the proceeds of which would be put toward “development plans”.
MegaFon reportedly raised an additional US$1bn with Russia’s Gazprombank.
