Vimpelcom doubles bond offer on strong demand

MOSCOW, RUSSIA: Russia's No.2 wireless carrier Vimpelcom is doubling the size of its domestic bond offering to 20 billion roubles ($674.8 million) on strong demand, a source told Reuters on Friday.

"We are increasing the offer. Demand is strong. Coupon guidance and timing remain the same," the source at one of the banks organising the issue said.

Meanwhile, Vimpelcom plans to attract a new $6 billion to $6.5 billion loan to fund the purchase of Italy's Wind and control of Egypt's Orascom Telecom, consisting of domestic financing from Russian banks and international financing, two senior bankers told Thomson Reuters LPC on Wednesday.

The company also unveiled on Tuesday plans to issue a Series 6 bond worth 10 billion roubles with a 9.00-9.50 percent coupon.

The source said it is now also offering Series 7 bond of the same size and the five-year maturity.

The order book will close on October 15.