Russia’s largest mobile operator MTS is planning its first exchange-traded rouble bond, worth Rbs10bn (US$323.2m).
The ten-year bond is set to be placed on the Moscow Interbank Currency Exchange (MICEX) on 3 April via a book-building process. Books…
Russia’s largest mobile operator MTS is planning its first exchange-traded rouble bond, worth Rbs10bn (US$323.2m).
The ten-year bond is set to be placed on the Moscow Interbank Currency Exchange (MICEX) on 3 April via a book-building process. Books close on 29 March.
Coupons will be paid semi-annually and bond-holders will have the right under a five-year put option, to sell the notes back to MTS.
Proceeds are intended for general corporate purposes.
Lead arrangers for the transaction are VTB Capital, Sberbank and UniCredit Bank. Sberbank is also acting as placement agent.
Earlier this month, MTS said in regulatory filing that it intends to offer Rbs30bn (US$969m) of 10-year and 15-year bonds.
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.
