Russian mobile operator MTS has mandated a consortium of banks to arrange investors meetings regarding a planned US dollar bond offering which may be followed by a Russian ruble tranche.
As joint lead managers and bookrunners for the planned…
Russian mobile operator MTS has mandated a consortium of banks to arrange investors meetings regarding a planned US dollar bond offering which may be followed by a Russian ruble tranche.
As joint lead managers and bookrunners for the planned transaction, Gazprombank, JP Morgan and the Royal Bank of Scotland have scheduled a series of meetings with investors in the US and Europe, starting today (17 May), the operator announced in a short statement.
An MTS spokesperson said the meetings will conclude next week and that proceeds will be used for general corporate purposes.
The US dollar tranche may be followed by a Russian ruble tranche if market conditions are suitable, the company said, providing no further details.
New York Stock Exchange-listed MTS said in March that it intends to offer Rbs30bn (US$969m) of 10 and 15-year bonds.
In early April, the company issued a 10-year Rbs10bn (US$316.16m) bond. MTS’ first-ever exchange-traded ruble bond, the notes carry a coupon of 8.25%.
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.
