OREANDA-NEWS. The Board of directors of OJSC “Lenenergo” under the initiative of management of the company has made a decision on change of the start date for the placement of bonds of OJSC “Lenenergo”declared earlier on December 14, 2006.

"The decision on change of date of placement of bonds has been dictated by an adverse situation in the securities market. Some power companies will simultaneously place bonded loans on December 14. Thus, the rate under the coupon income for bonds of OJSC “Lenenergo” turns out very high – at the rate of 10 % annual", assistant general director on corporate and legal management of OJSC “Lenenergo” Victor Tamarov commented.

The Board of directors has made a decision to charge the general director of OJSC “Lenenergo” with powers to independently define new date of the placement of bonds when market condition will be optimum. It should be established till February 28, 2007.