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Russia’s Mobile TeleSystems series 03 bond coupon up to 12%; put date set for Dec. 17
By Jennifer Chiou
New York, Dec. 5 – Mobile TeleSystems OJSC announced that the coupon rate for its series 03 ruble-denominated bonds due June 12, 2018 has been changed to 12% from 7.5%.
According to a company filing, the bonds carry a one-year put option, and the next put date is scheduled for Dec. 17.
Holders may submit their bonds for repurchase from Dec. 10 until Dec. 16.
Gazprombank, Raiffeisenbank and Troika Dialog are lead arrangers of the bond. Gazprombank is also the repurchase agent.
Mobile TeleSystems issued RUB 10 billion of the series 03 bonds on June 24, 2008 with a five-year put option. The bonds had an initial coupon of 8.7% for the first through fourth coupons and 8% for fifth through 10th coupons. On June 5, 2013, the interest rate was changed to 7% for the 11th coupon. On Dec. 9, it rose to 7.5% for the 12th and 13th coupons.
The telecommunications provider is based in Moscow.
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