KIEV, Ukraine—The second-largest Ukrainian carrier Kyivstar is placing corporate bonds worth 86.95 million hrivnas (US$16.3 million). The placement will continue until 17 October.
The bonds are issued in documentary and non-documentary form and mature in six, 12 and 18 months. The interest rate was fixed at 18 percent to 20 percent in hrivnas and at 11 percent to 12 percent in U.S. dollar equivalent. The bonds are offered to domestic and foreign legal entities and private individuals.
Kyivstar said the borrowed funds will be invested into the expansion of its GSM 900 MHz and 1800 MHz networks, as well as into the development of short message service (SMS), voice mail, Wireless Application Protocol (WAP) and prepaid services.
