Ukraine's Kyivstar to offer new five-year notes for existing 12¾% bonds

By Reshmi Basu

New York, July 12 - Kyivstar GSM is offering a minimum $125 million of new five-year bonds (B2/B) in exchange for its existing 12¾% bonds due 2005, according to a market source.

The new issue will yield at least 10%.

The company is offering to $1,100 of the new notes for each $1,000 of the existing securities to holders who tender by the early submission date of July 26.

Holders who tender after the early submission date but before the expiration date of Aug. 10 will receive $1085 of new notes for each $1,000 of the existing securities.

A roadshow for the exchange will run from July 15 to July 21. Pricing is expected on July 21.

Citigroup and Dresdner Kleinwort Wasserstein are running the Rule 144A/Regulation S exchange offer.

The company is a Ukrainian mobile-phone network operator owned by ASA Telenor of Norway.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.