OREANDA-NEWS. December 6, 2007. OOO Belon-Finance, a subsidiary of OAO Belon, completed the next interest payment on the first bonds.

The first warrant interest rate of corporate bonds was estimated at 9.1% a year, which makes RUR 45.38 per security. The total amount of interest paid is RUR 68,070,000.

The first public offering of interest-bearing three-year documentary bonds worth RUR 1.5 billion was completed in February 2006. The manager and underwriter of the issue was Vneshtogrbank. The second offering of bonds worth RUR 2 billion with a five-year maturity was made on March 01 this year.

Belon's absolute guarantee is the security for Belon-Finance corporate bond indebtedness. The funds raised from the bonds issue were directed at the implementation of the investment program of Belon Group.