14 Oct 2010 13:46

Vimpelcom lowers coupon guidance on bond series six and seven to 8.75%-9%

MOSCOW. Oct 14 (Interfax) - OOO Vimpelcom-Invest has lowered the coupon guidance for its bond series six and seven (worth a combined by 20 billion rubles) to 8.75%-9% from 9%-9.5%, Alfa-Bank , one fo the issue's organizers, told Interfax.

The bid book for the sixth series closes 3:00 pm Moscow time on October 15 and the seventh series - 6:00 pm on the same day. The rates for all semiannual bonds will be equal throughout the entire period of circulation.

The placement of bond series six and seven on the MICEX is planned for October 19.

Alfa-Bank, Raiffeisenbank and Renaissance Capital are the placement organizers.

The Federal Financial Markets Service (FFMS) registered series six and seven each worth 10 billion rubles at the end of May. OJSC Vimpelcom provided the guarantee on the issues.

Vimpelcom-Invest currently has its first and third series in circulation each worth 10 billion rubles.

OJSC Vimpelcom itself has only placed Eurobonds. The company currently has $2.9 billion in four LPN issues.

Vimpelcom's combined debt came to $6.648 billion at the end of the first quarter of 2010. The company's short-term debt came to $5.29 billion rubles and long-term debt - $1.36 billion. Net debt came to $4.9 billion.