Russia’s MegaFon gets approval to issue up to RUB 80 billion of bonds

By Angela McDaniels

Tacoma, Wash., March 22 – PJSC MegaFon’s board of directors approved a RUB 80 billion interest-bearing non-convertible bearer exchange bond program, according to a company filing with the London Stock Exchange.

Bonds issued under the program will have a term of 10,920 days.

The coupon rate and type will be determined either by an auction or by a book-building exercise.

The program provides for early repayment in certain cases at the company’s discretion or subject to holders' request.

The program remains subject to the registration of the documentation by the Moscow Exchange.

MegaFon is a telecommunications operator based in Moscow.

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