MTS reports plans to issue Eurobonds

Mobile TeleSystems (MTS) has officially announced its plans to issue unsecured notes (Eurobonds) nominated in US dollars, the company's press release says. The Eurobonds will be issued through the MTS subsidiary Mobile TeleSystems Finance S.A and guaranteed by MTS. The securities will be offered and sold outside the USA by reaching offshore deals in compliance with US law. The MTS press service noted that the amount of attracted funds would depend on conditions on the market and final terms of deals, however, it would most likely be below $400m.

MTS is going to use raised funds for its corporate purposes, including possible acquisitions of mobile operators in various regions of Russia and the CIS.

MTS is a Russian mobile operator that provides services to more than 6 million subscribers. The company and its subsidiaries have licenses for rendering mobile communications services in GSM-900/1800 standard in 56 regions of Russia. Starting in 2000, MTS shares are traded on the New York Stock Exchange.

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