Vodafone Ukraine raises $500mn via Eurobond placement

By bne IntelliNews February 5, 2020

Vodafone Ukraine, the second largest Ukrainian mobile operator, has placed a Eurobond issue for $500mn at 6.2% per annum.

A source in the banking secotor told news agency Interfax that the demand for the operator's bonds amounted to about $3bn. "The funds raised will be used to repay the bridge loan [of] the amount of $464mn and corporate goals," the source said.

JP Morgan, Raiffeisen Bank International, Dragon Capital and ICBC Standard Bank acted as organisers of the bond issue.

In November, Russian telecom operator MTS signed an agreement with Telco Solutions and Investments, which is owned by Azerbaijan's Bakcell telecom company, on the sale of MTS operations in Ukraine - Vodafone Ukraine - for $734mn, including deferred payments of about $84mn. Bakcell telecom company is incorporated in NEQSOL Holding.

Related Articles

North Macedonia starts process of issuing six-year Eurobond

North Macedonia has launched the process of issuing a six-year Eurobond to cover budget gaps for 2020 and 2021, local media reported on May 27. The government previously said that the maximum ... more

Economists predict Turkey will see rate cut of 50bp on May 21

Responses from 15 economists surveyed by Reuters produced a median estimate of 50bp for the benchmark rate cut Turkey’s central bank is expected to announce on May 21 (at 11:00 GMT). It would be ... more

After punishing day for lira analysts wonder if Turkey might after all bring in capital controls

As Turkey on May 7 blocked three global banks from trading Turkish lira (TRY) in an effort to stem the slide of the ... more