By Paul A. Harris
St. Louis, Oct. 8 - Mobile TeleSystems, the Russian mobile telephone giant, sold $400 million of senior unsecured notes due Oct. 14, 2010 (Ba3/B+) at par on Wednesday to yield 8 3/8%, according to a market source.
Price talk was for a yield in the 8 3/8% area, having tightened from the 8 5/8% area.
Credit Suisse First Boston and ING were bookrunners on the Rule 144A/Regulation S offering.
MTS will use proceeds from bond sale to refinance existing debt.
| Issuer: | Mobile TeleSystems Finance SA
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| Amount: | $400 million
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| Maturity: | Oct. 14, 2010
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| Security description: | Senior unsecured notes
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| Bookrunners: | Credit Suisse First Boston, ING
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| Coupon: | 8 3/8%
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| Price: | Par
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| Yield: | 8 3/8%
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| Calls: | Non-callable
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| Spread: | 527 basis points
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| Settlement date: | Oct. 14
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| Ratings: | Moody's: Ba3
|
| Standard & Poor's: B+
|
| Price talk: | 8 3/8% area (decreased from 8 5/8% area)
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