November 19, 2002 OJSC CenterTelecom made an irrevocable offer to buy back its series 01 bonds. The company's payment agent ZAO Raiffeisen Bank was in charge of the buyback, valued at RUR 4.2 million (0.7% of the issue).
OJSC CenterTelecom placed the issue on MICEX (Moscow Interbank Currency Exchange) on November 16, 2001. Five coupons are to be paid out on the bond. The circulation period of the first two coupons is three months, and six months for the other three.
The third coupon, paid out on November 19, 2002, carries a 20.5 percent annual yield, while the fourth and fifth have an 18 percent annual yield. These two coupons are to be redeemed on May 20th and November 18th 2003, respectively. Redemption is scheduled to take place together with the fifth coupon payout on November 18, 2003. No premature buyback offer is envisaged.
The underwriters' syndicate of the issue includes: organizer and arranger ZAO Raiffeisen Bank Austria, co-organizer and financial consultant - AKB Moscow Business World (MDM Bank), and co-organizer Troika Dialog brokerage. The project coordinator for CenterTelecom's bond issue will be Svyazinvest, the company's major shareholder.
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