Ukraine's Kyivstar plans to issue $150 million seven-year bonds

By Reshmi Basu

New York, April 12 - CJSC Kyivstar GSM plans to sell $150 million of seven-year bonds (B1/B+) on Thursday, according to a market source.

The proposed bonds will be non-callable for life.

Proceeds from the sale will be used for network expansion, to refinance existing debt and for general corporate purposes.

Citigroup and Dresdner Kleinwort Wasserstein are lead managers for the Rule 144A/Regulation S deal.

The issuer, based in Kiev, Ukraine, is a mobile telecommunications operator.

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