print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line

Get updates

Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Moscow City Telephone press releases

Moscow City Telephone

November 1, 2001

On 31 October 2001, Open Joint-Stock Company "Moscow City Telephone Network" (OJSC MGTS) together with the banking syndicate JSCB (Joint-Stock Commercial Bank) "Trust and Investment Bank" and JSCB "Moscow Bank for Reconstruction and Development" (MBRR - Russ.) announced the start of implementation of a new financial project aimed at issuing ruble interest documentary bonds

The total amount of the issue at par will be One Billion (1,000,000,000) rubles (the principal value per bond is 1,000 rubles and the volume of the issue is 1,000, 000 bonds). The placement of the bonds is carried out by public subscription within the framework of the Trade and Rating System applicable at the Moscow Interbank Exchange (MMVB - Russ.). The bonds placing commencement date is 13 November 2001. The term of the bonds circulation is Three (3) years, equally divided into Six (6) half-year coupon periods. Special condition of the issue circulation is the OJSC MGTS' commitment to redeem the bonds from any holder at par value on the date of a coupon period onset.

The attracted long-term borrowings are intended to be utilized for an earmarked financing of high-yield projects of the Company: development of backbone broadband data network, provision of high-rate data transmission based on ADSL (Asymmetrical Digital Subscriber Line) technology, public payphone network enhancement, and getting the city network prepared for putting ABC 449 code into operation.

The successful history of the issue and service of OJSC MGTS corporate bonds both in foreign currency and in rubles is yet another confirmation of reliability of the Company as a borrower. Besides, the projected cash flows resultant from OJSC MGTS current activity shall provide the Company with the funds both to implement the invest-ment program, and to timely redeem the bonds and repay the loans.

The OJSC "Moscow City Telephone Network" management expresses the hope that its bonds now in issue will be in high demand of the Russian investors operating in the telecommunications market.

(See the photo-report)




Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index


Site Map
Privacy Statement | Disclaimer