Russia's Mobile Telesystems to place RUB 15 billion seven-year bonds

By Jennifer Chiou

New York, July 22 - OJSC Mobile Telesystems announced plans to place 15 billion ruble of bonds due 2016 on July 28.

The bonds will have a three-year put option.

Gazprombank and VTB Bank are the lead arrangers.

Proceeds are earmarked for general corporate needs.

Mobile Telesystems is a Moscow-based mobile phone company.

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