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North-West Telecom

December 30, 2004

JSC North-West Telecom third bond issue has registered

On December 28, the Federal Financial Markets Service (FFMS) registered the 3rd issue of OJSC North-West Telecom’s interest-bearing documentary bonds payable to bearer in the number of three million pieces denominated at RUR 1,000 each. The total amount of the issue will be three billion rubles. The prospectus of the bonds was also registered.

The features of the 3rd bonded debt of OJSC North-West Telecom are:

The circulation period of the bonds will be 6 years. The bonds may be prematurely presented for repayment in three years.

The bonds will be placed at their face value. The bidding will be held at the 1st coupon rate. The rest of the coupons (the issue provides for quarterly payments) will be equal to the first one. Upon completion of the three-year period, the Company will decide on the coupon interest rates for the next three years.

Placement method: Public subscription. 

The starting date of the Bonds’ placement will be determined subject to the market trend. The target date is the 1st quarter of 2005 (at least 2 weeks after the disclosure of information of the issue’s State registration).

As for the 2nd issue, stage-by-stage repayment of the issue’s bonds is provided.

The face value of the Bonds will be repaid by installments on the following dates:

  • 1820th day from the starting date of placement of the issue’s bonds: repayment of the first portion, i.e. 30 percent of percent of the Bonds’ face value.
  • 2002nd day: repayment of the second portion, i.e. 30 percent of the Bonds’ face value.
  • 2184th day: repayment of the last portion, i.e. 40 percent of the Bonds’ face value.

The underwriter is LLC NWT-Finance, a 100% subsidiary of the Company incorporated for this special purpose. The manager of the issue is OJSC Web Invest Bank, and the co-manager, ACB Sviazbank. The financial consultant is IC AVK.

Currently, the second bond issue to the total amount of RUR 1.5 billion is in circulation.

 

 

 

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