MegaFon board gives go-ahead to up to $1.5 billion notes program

By Jennifer Chiou

New York, Sept. 3 - OJSC MegaFon announced that its board of directors authorized an up to $1.5 billion European medium-term notes program.

Under this program, the company said it will be able to issue short-, medium- and long-term debt securities in different currencies.

The issuer, based in Moscow, is a mobile phone company.

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