Russia's MegaFon $375 million five-year notes talked to yield 8¼% area, to price Thursday

By Paul A. Harris

St. Louis, Nov. 30 - Price guidance on MegaFon SA's $375 million offering of five year senior fixed-rate bullet notes (//B-) is the 8¼% area, according to market sources.

Pricing is expected to take place on Thursday.

Citigroup and ING have the books for the Regulation S offering.

The notes will be guaranteed by OJSC MegaFon's major operating subsidiaries.

Proceeds will be used to fund the company's investment program.

The prospective issuer is Russia's third-largest mobile phone company.

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