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Russia’s Mobile TeleSystems holders put back RUB 3.71 billion bonds
By Jennifer Chiou
New York, Dec. 18 – Mobile TeleSystems OJSC announced that it repurchased RUB 3.71 billion of series 03 ruble-denominated bonds due June 12, 2018 after holders exercised a put option on the securities.
As announced earlier in the month, the coupon rate for the bonds was changed to 12% from 7.5%.
According to a company filing, holders could submit their bonds for repurchase from Dec. 10 until Dec. 16.
Gazprombank, Raiffeisenbank and Troika Dialog are lead arrangers of the bond. Gazprombank was 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 the 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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