Mobile TeleSystems (MTS), eastern Europe’s largest cellular company, plans to sell about USD 600 million of bonds to replace maturing foreign-currency debt, Bloomberg quoted Andrei Braginsky, the company’s head of investor relations, as saying last Monday. He would not comment on the likely maturity, currency or underwriters of the securities. MTS last sold Eurobonds in October, issuing USD 400 million of seven-year bonds at a yield of 8.375 percent. The bonds have since gained, pushing the yield down to 7.6 percent. The debt is rated Ba3 at Moody’s Investors Service, three levels below investment grade, and B+ at Standard & Poor’s, four short of investment grade.