By Paul A. Harris
St. Louis, Dec. 2 - Russian mobile telephone company OJSC MegaFon priced $375 million of five-year non-callable eurobonds (B2/B+/BB-) at par on Thursday to yield 8%, according to a market source.
The yield came at the tight end of the revised 8% to 8¼% price talk. Earlier the deal had been talked at the 8¼% area.
Citigroup and ING ran the books for the Regulation S issue.
The notes are guaranteed by OJSC MegaFon's major operating subsidiaries.
The Moscow-based company will use the proceeds to fund its investment program.
| Issuer: | OJSC MegaFon
|
| Amount: | $375 million
|
| Maturity: | Dec. 10, 2009
|
| Security description: | Eurobond
|
| Bookrunners: | Citigroup, ING
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Spread: | 428 basis points
|
| Call protection: | Non-callable for the life of the bond
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 10
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Fitch: BB-
|
| Price talk: | 8%-8¼%, revised from 8¼% area
|
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