Ukrtelecom to issue UAH 250 mln in 3Y local bonds

Ukrtelecom plans to sell UAH 250 mln in M-series local corporate bonds maturing in September 2014 at 14.5% for the first and second coupon period, Interfax reported on Friday. Proceeds will be directed to expanding the company’s ADSL internet coverage and modernize streaming video equipment. Bond placement is expected to take place from September 12 to December 2, 2011. Ukrtelecom plans to invest UAH 3.2 bln in development in 2011-2013.