On January 16, 2003 Siberia Telecom paid out in full the coupon yield on its 03 series corporate bond.  The total amount of yield is Rub 110,619,000.  The payout was made right on schedule, as provided for in the Issue Decision and the Bond Issue Prospectus.

The main features of Siberia Telecom’s bond issue are as follows: 

Type – interesting-bearing non-convertible. Form of issue – document pay-to-bearer. Series03.  Total amount of bond issue – Rub 1.53 bln.  Termtomaturityofissue- 3 years.  Annualcouponrate– 14.5%.  Underwriterandarrangeroftheissue– AlfaBank. Depositary – NationalDepositaryCenter.  Effective August 29, 2003the issue received an official listing on MICEX. 

Proceeds from the issue are to be allocated to upgrading telecommunications infrastructure, raising the digitalization rate, rolling out value-added telecom services and financing costs resulting from the buyout of stakes in cellular operators – a 49% stake in Eniseitelecom (Krasnoyarsk) and Baikalvesttelecom (Irkutsk).