RusTele.com

Russia NWT plans 3 bln rouble bond early Aug

MOSCOW, July 20 - Russian regional fixed-line operator North-West Telecom plans to issue a 3 billion rouble bond at the beginning of August, a co-lead manager said on Monday.
NWT, which saw most of its liquidity indicators worsen in 2008 due to the financial crisis, said last month it planned to borrow up to 8.54 billion roubles this year, including 7 billion roubles in domestic bonds.
The coupon on the Series 6 bond will be set in a range of 13.50 percent and 14.50 percent, Raiffeisenbank said.
It also said the bond would have a two-year put option at 102.50 percent of par and call options at 100.25 percent of par in three and six years.
The issue is organised by Svyaz Bank, a traditional lender to the telecom sector, while Raiffeisenbank, the Baltic Financial Agency and ING Bank are co-lead managers.
NWT, controlled by national telecoms holding Svyazinvest, is a fixed-line operator servicing the northwestern region.