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BTel offers three-year bond on Oct 6-13

Hungarian telco Business Telekom (BTel) will offer a three-year corporate bond with a 14.5% yield for subscription on October 6-13, BTel's PR company told MTI on Thursday.

The issue is the continuation of a bond program launched in June, when retail investors subscribed HUF 302m of bonds maturing in August 2014 carrying a fixed annual coupon of 12.5%.

BTel said earlier it would use the proceeds from the issue to cover investments for which preparations have already been made, mainly the further development of its microwave network and the launch of SAT TV services.