On October 7, 2003, Far East’s BoD decided to raise the rates on its 3-year bond loan, scheduled to be placed on MICEX by public subscription by the end of 2003, by Rub 1 bln.
Annual rates of the 3rd and 4th coupons were raised from 10% to 15%, 5th and 6th – from 9% to 13%. These changes are supposed to make the company’s bonds more attractive for investors.
Six-half year coupons are planned to be issued against the bonds. The first two will be set by the issuer after the underwriting competition, the rest are fixed.
Trust Investment Bank is the manager, underwriter, and payment agent; ZAO Investment company ABK is the financial consultant.
The Federal Securities Commission registered the bond issue and prospectus on July 18, 2003. Stateregistrationnumberis4-09-30166-F.
Far Eastalso reported that the issuing of series D1 bonds will be suspended from October 7, 2003. The official statement will be published in “Russkaya gazeta” and posted on Far East’s Website.
The proper documentation for registering these changes in the issue and the prospectus will be presented to the Federal Securities Commission in the near future.
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