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KamAZ

March 2, 2004

“KAMAZ-FINANCE” Has Floated Regular Tranche of its Bills

“KAMAZ-FINANCE” company is carrying on the program of borrowing from foreign finance institutions. In the context of this program there have been issued discount promissory notes with a 6-month circulation period and aggregated amount of 200 million Rubles at par value.

“KAMAZ INC. and KAMAZ Foreign Trade Company have guaranteed the bills. “Zenith” Bank has domiciled the bills. The bank also acts as the organizer of “KAMAZ-FINANCE” bill program and “Kazansky” Bank is its co-organizer.

“Earlier the company has already issued bills valued 250 million Rubles. The total value of “KAMAZ-FINANCE” circulating bills today equals to 450 million Rubles. Indicative quotation of bills is being executed within a trade system (which is out of Russian exchange net).

“Money is borrowed only to fund approved projects of KAMAZ Inc., thus ensuring their effective allocation.

 

 

 

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