Russia’s MegaFon repurchases RUB 8.25 million of series 05 bonds

By Tali Rackner

Norfolk, Va., Oct. 14 – OSJC MegaFon announced that subsidiary MegaFon Finance LLC has repurchased RUB 8,249,296 of its RUB 10 million series 05 ruble-denominated bonds that were put back to the company, according to a filing with the London Stock Exchange.

Investors had the option to put the bonds back to MegaFon because the coupon reset.

Bonds not put will continue trading with a coupon of 9.85% for a period of 18 months.

After that, the coupon will be subject to further revision and the bonds will again be subject to a put option.

The telecommunications operator is based in Moscow.

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