MTS looks for finance

February 17, 2014 11.45 Europe/London By Chris Dziadul

MTSRussia’s MTS has approved the issue of exchange bonds totaling R50 billion (€1.04 billion).

According to Vedomosti, there will be six issues in total, with the bonds being valid for 10 and 15 years.

A final decision on when the placement will take place will depend on market conditions.

The money raised from the bonds is likely to be used to refinance the company’s debt and to increase dividends.

MTS is a leading player in Russia’s pay-TV market, claiming 2.6 million subscribers.