On 9th April 2004 OJSC North-West Telecom repaid the issue of series 1 Bonds and paid the last, fifth coupon of the document ary interest-bearing Bonds payable to bearer, series 01.   

300 million RUR were allocated to the issue retirement. The coupon rate was 16% per annum, 80.22 RUR having been accrued per Bond.

The coupon payment and the issue retirement were effected according to the timing established by the Decision on the Issue and in the full amount.

The total amount allocated for the coupon payment amounted to 24,066 thousand RUR.   

CJSC Telecombank acted as the payment agent in the issue retirement and payment of the coupon yield.    

The first issue consisted of 300,000 Bonds with the face value of 1 thousand RUR and the circulation period of 2 years. Floatation of the issue took place on 10th April 2002 at MICE (Moscow Interbank Currency Exchange) and SPCE ( St. Petersburg Currency Exchange) simultaneously at the price of 96.5% of the face value. Five coupons were paid under the Bonds of the issue, the total amount of payments being 104,244 thousand RUR.   

At the moment, the second bonded loan of OJSC North-West Telecom (1.5 billion RUR) is in circulation. The second bond issue was floated on 8th October 2003 at MICU. The bond circulation period is four years with the right of early retirement in two years. The rates of the first four coupons are 14.2% per annum, while the rates of the 5th-8th coupons are 13.2%.

OJSC North-West Telecom intends to continue pursuing the consistent policy of extending the periods, and reducing the cost of its debt instrument servicing, through bond floating.