Russia's VimpelCom postpones $300 million deal, cites market conditions

By Paul A. Harris

St. Louis, April 30 - Moscow-based telecommunications company VimpelCom BV postponed its $300 million offering (B1/BB-) of Rule 144A/Regulation S bonds on Friday, according to an informed source.

The company cited volatility in emerging markets bonds as its reason for the postponement.

"They concluded the roadshows, which went well," said the source. "I think they will wait for more stable market conditions."

JP Morgan and UBS Investment Bank had the bookrunning mandate.

VimpelCom had earmarked proceeds from the sale to refinance debt.

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