Russia's MTS resumes Eurobond placement

MOSCOW,  RUSSIA: MTS, Russia's top mobile phone operator, has resumed placing its 10-year U.S. dollar benchmark Eurobond after briefly postponing the deal last week, two banking sources said on Monday.

One source said MTS opened an order book on Monday and will close it late on Tuesday, and another source said the Eurobond will be worth around $1 billion and was likely to be placed with a yield of 8.5 to 9.0 percent.

Sources told Reuters on Friday the company decided to postpone the placement due to market volatility but would return to the plan once the markets conditions improve.

"We have not abandoned the idea (to place the Eurobond), we are waiting for the (right) market conditions," MTS' spokeswoman Yelena Kokhanovkaya said.