Vimpelcom, the Russian Telecommunication giant with assets in various emerging markets including Italy and Pakistan. has hired banks to issue notes of dollars and roubles in order to refinance existing problems.Telenor has 31% shares in Vimpelcom while Vimpelcom holds stakes in Orascom, the parent company of Mobilink.
Reuters reported that Vimpelcom plans to issue a five-year rouble Eurobond having initial guidance set at the 9 percent area. Barclays, Citigroup, ING, and Royal Bank of Scotland will be leading to manage the financing.
The Russian giant is buried in debts which grossed $26.6 billion at the end of September 2012 out of which $2 billion will mature this year. In 2012 Russian borrowers managed to raise a total of around $53 billion through Eurobond issues and have issued more debt this year to profit from positive risk sentiment towards emerging markets.
No comments:
Post a Comment