Uralsvyazinform registers $175 million bond issue
MOSCOW, November 3 - The Federal Financial Markets Service of Russia (FFMS) said Thursday that it has registered two bond issues of Uralsvyazinform worth 5 billion rubles (about $175 million).
Uralsvyazinform registered the 6th bond issue worth 2 billion rubles (about $70 million, 2 million bonds at a par value of 1,000 rubles each) and the 7th bond issue worth 3 billion rubles (about $105 million, 3 million papers at a par value of 1,000 rubles each).
The company decided to place the 6th issue in 2005 Q4 and the 7th issue in 2006 Q1. Russia`s Svyaz-Bank is the issue`s lead manager while Deutsche Bank (Germany) and Russia`s Promsvyazbank are acting as its co-managers.
Uralsvyazinform bank will float the bonds via public subscription for six years and will redeem them by installments of 20% at par. The company will repay the first 20% of the bond issues four years after their placement and redeem the remainder every six months.
Uralsvyazinform currently has three outstanding bond issues worth 8 billion rubles (about $280 million).
Uralsvyazinform provides cable and cellular phone communications in Russia`s Urals region. The company`s authorized capital is 4.82 billion rubles (about $143 million).
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