By Susanna Moon
Chicago, July 14 - OJSC Vimpel-Communications said it issued RUB 10 billion of ruble-denominated bonds through LLC VimpelCom-Invest, a consolidated Russian subsidiary of VimpelCom. The bonds are guaranteed by VimpelCom.
The bonds are due on July 8, 2014.
The coupon for the first four payment periods is 15.2%. VimpelCom-Invest will determine the annual interest rate for subsequent periods based on market conditions. Interest will be paid semiannually.
Holders may put the bonds when the annual interest rate for subsequent periods is announced at the end of the fourth payment period.
Proceeds will be used for refinancing foreign-currency debt and for the development of VimpelCom's core business.
VimpelCom is a Moscow-based telecommunications provider.
| Issuer: | OJSC Vimpel-Communications
|
| Amount: | RUB 10 billion
|
| Issue: | Notes
|
| Maturity: | July 8, 2014
|
| Coupon: | 15.2% for first two years
|
| Price: | Par
|
| Put option: | After two years
|
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