Tele2 Russia has upped its domestic bond offering from Rbs 4bn (US$134.3bn) to Rbs7bn (US$235m) following strong investor demand.
The telco, part of the Stockholm-based Tele2 group, said in a statement today its subsidiary OJSC Saint-Petersburg…
Tele2 Russia has upped its domestic bond offering from Rbs 4bn (US$134.3bn) to Rbs7bn (US$235m) following strong investor demand.
The telco, part of the Stockholm-based Tele2 group, said in a statement today its subsidiary OJSC Saint-Petersburg Telecom has closed the books and announced the pricing of an Rbs 7bn two-tranche bond issue. The bonds have a final maturity of 10 years and a put option providing for an effective tenor of two years.
Tele2 said the books were oversubscribed at a coupon rate for the two-year period set at 8.9% per annum. The company added OJSC’s liabilities as issuer under the offering will be covered by irrevocable undertakings from Tele2 Russia and Tele2 Financial Services.
Lead arrangers and bookrunners of the offering are Raiffeisen Bank and VTB Capital.
Ondra Partners acted as financial advisers to Tele2.
On 7 February, Fitch assigned the Rbs 4bn bond offering an expected ‘BB+(EXP)’ long-term senior unsecured rating and an ‘AA(rus)(EXP)’ national long-term rating.
Last November, Tele2 Russia reportedly postponed a planned Rbs6bn (US$196m) bond issue because of poor market conditions.
