On May 19, 2004the company paid out Rub 72.3 mln on its series-D first 3-year bond.  Payment per bond with a nominal value of Rub 1,000 was Rub 72.30 with a 14.4% yield.

In all, the bond carries six semi-annual coupons with a fixed interest rate of 14.5% in the first year of circulation, 15% during the second and 13% in the third. Two years after placement investors can exercise a call option at nominal value.

The bond was placed on MICEX on November 19, 2003.  The total amount of the issue was Rub 1 bln.  The underwriter and payment agent of the issue was Trust Investment Bank.  ABK Investment Company acted as the financial consultant for the issue.

The redemption date of the bond is November 15, 2006.