Russia's Sitronics mandates ABN Amro and Credit Suisse for debut bond offering

By Reshmi Basu

New York, Feb. 13 - JSC Sitronics has mandated ABN Amro and Credit Suisse for a debut offering of dollar-denominated bonds, according to a market source.

The issue is expected to carry a short to medium tenor.

Proceeds from the sale will be used for general corporate purposes, including the refinancing of short-term debt and for capital expenditures.

Meanwhile, a roadshow is scheduled to begin Tuesday, making stops in both Asia and Europe.

Sitronics Finance SA will issue the Regulation S bonds.

The Moscow-based issuer is the technology arm of Sistema, a consumer services company in Russia and the Commonwealth of Independent States.

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