Tele2's Saint-Petersburg Telecom lifts bond offering to RUB 13 billion

By Susanna Moon

Chicago, June 17 - Tele2 Russia Holding AB's subsidiary OJSC Saint-Petersburg Telecom again upsized its proposed debut ruble bond offering due to demand, according to a press release from Tele2 AB.

The company will now sell RUB 13 billion bonds, up from RUB 10 billion bonds on Wednesday. The original offering size was RUB 5 billion bonds.

Raiffeisen Bank and VTB Capital are the lead arrangers and bookrunners.

According to a previous news release, the coupon will be 9% to 9½%, the books will close on Wednesday, and the bonds will be putable after five years.

Tele2 Russia Holding plans to use the proceeds to refinance existing intercompany debt.

Ondra Partners is financial adviser to Tele2 AB.

Tele2 AB is a telecommunications operator based in Stockholm.

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