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North-West Telecom

October 9, 2003

JSC North-West Telecom pre-term paid off 4th coupon for 1st bond issue

On October 8, 2003 JSC North-West Telecom pre-term paid off the fourth coupon for the 1st issue’s documentary interest-bearing bonds. The total amount to the coupon payment accounted for 23,934,000 RUR. The interest rate of the coupon is 16 percent per annum, or 79.78 RUR per bond.

According to the Decision on Issue, the date scheduled for payment of the fourth coupon for the 1st issue’s bonds is October 9, 2003, therefore the coupon payment was made pre-term of schedule and in full scope.  

CJSC Telecombank acts as a paying agent in payment of coupon yield.  

The Company will pay off the fifth coupon 16 percent per annum on draw-on date of the two-year bond, i.e. April 9, 2004.  

OJSC North-West Telecom pursues a steady policy of reduction of its debt obligation servicing costs.

At the disposition of the second bonds issue of  JSC North-West Telecom on October 9, the following interest rate of the coupon were set:  

1st to 4th coupon: 14.2 percent per annum;

5th to 8th coupon, according to the Decision on Issue, 13.2 percent per annum.

Details:

The main parameters of the first issue of OJSC North-West Telecom bonds are:

Issued amount: 300 million rubles at denomination, with one bond denominated at 1,000 rubles. The bond circulation period is 730 days. The duration of the first two coupon periods is three months, and of the next three periods, six months.  

The bonds were placed on April 10, 2002 simultaneously at two exchanges, St. Petersburg Currency Exchange and Moscow Interbank Stock Exchange. The bonds issue was registered by the resolution of the Federal Security Board of Russia of March 6, 2002.  

On May 15, 2002 the FSB of Russia approved the report on the OJSC North-West Telecom bonds placement results. By the end of May 2002, the bonds were admitted to bidding at MISE and SPCE.

 

 

 

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