The Federal Securities Commission adopted a resolution on December 10th to register a report on the results of the first ruble bond issue by Moscow Region's main telecom operator OAO Central Telecommunications Company. The issue, with a total par value of Rub. 600 mn, was successfully placed on November 16, 2001 on MICEX. The second bond issue is planned for the end of December 2001.
The market makers for the secondary market of CenterTelecom's bonds will be a bond underwriting syndicate consisting of: Raiffeisenbank Austria, in charge of arranging the issue, AKB Moscow Business World, the co-arranger and financial consultant, and Troika Dialog, co-arranger.
The circulation period for the bonds will be two years. Five coupons are to be paid out for the bonds. The payout period for the first two coupons is three months and six months for the next three. The coupon rate for the first one will be 22% and will be fixed by decision of the Board of Directors of CenterTelecom for the others no later than 10 days before the beginning date of the first coupon period. The payout date for the first coupon income will be February 19, 2001.
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