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Jun 2, 2011 10:15 AM CET

Tele 2 Russia Holding AB (BB+ by Fitch) announces proposed rouble bond offering

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today announced that OJSC Saint-Petersburg Telecom (Issuer), a subsidiary of Tele2 Russia Holding AB has announced its debut RUB bond offering.


Issue nominal amount is RUB 5,000,000,000 with final maturity in 10 years. The bonds are issued with put options, providing for effective tenors of 5 years. Indicative coupon guidance 9.00 - 9.50 percent per annum for 5 year tenors with semi-annual coupons. Issuer's liabilities under the offering will be covered by irrevocable undertakings from Tele2 Russia Holding AB and Tele2 Financial Services AB. The book is to be closed on 22 June, 2011. The settlement and secondary trading will be executed on MICEX.


Fitch Ratings has assigned issue preliminary rating of «BB+» level.


Tele2 Russia Holding AB intends to use the proceeds from the bonds to refinance existing intercompany indebtedness.


Lead-Arrangers and Book-runners of the offering are Raiffeisen Bank and VTB Capital.


Ondra Partners are financial advisors to Tele2 AB.


Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Telephone: +46 704 26 45 45



TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST DEAL. We have 31 million customers in 11 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2010, we had net sales of SEK 40.2 billion and reported an operating profit (EBITDA) of SEK 10.3 billion.


The information in this press release does not constitute an offer or an advertisement of any securities in any jurisdiction. Specifically, without limiting the generality of the foregoing, the information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer, nor the solicitation of an offer to buy or acquire or subscribe for any securities in Russia, or an invitation or inducement to engage in investment activity in relation thereto.

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