Russia's Mobile Telesystems to place RUR 10 billion seven-year bonds

By Susanna Moon

Chicago, Oct. 21 - Mobile Telesystems OJSC (//BB+) plans to issue RUR 10 billion of bonds due 2015 on Oct. 28, according to a company news release.

Gazprombank, Raiffeisenbank, Sberbank and Troika Dialog are lead arrangers.

Interest will be payable semiannually.

Proceeds will be used for general corporate needs.

The offering is the third placement of RUR 10 billion bonds. The issuer previously placed RUR 10 billion bonds due 2018 with a two-year put on June 24, and it plans to sell RUR 10 billion of bonds due 2013 on Thursday.

Mobile Telesystems is a Moscow-based mobile phone company.

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