MTS Announces Commencement of Fifth Ruble Bond Placement
OREANDA-NEWS. On 23 July 2009 was announced, that Mobile TeleSystems OJSC ("MTS" – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that it will place its fifth ruble bond worth 15 billion roubles on the Moscow Interbank Currency Exchange (MICEX) on July 28, 2009, with maturity in 2016.
Coupons are to be paid annually, while bond holders will have the right under a three-year put option to sell the bonds to MTS. Lead Arrangers of the bond are Gazprombank and VTB Bank. The bonds will be placed on MICEX on July 28, 2009 though a book-building process. The books are to be closed on July 24, 2009. The bond will be listed in the "V" quotation list on MICEX.
The proceeds from the bond placement will be used for general corporate needs, which include funding the Company’s CAPEX plan, meeting future obligations and better rationalizing its debt structure.
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