OREANDA-NEWS. May 20, 2008. A bonded loan of the Republic of Karelia with a nominal value of 800 million roubles has been successfully placed on the MICEX. The Bank of Moscow acts as the General Agent and organiser of the issue. This is the Republic’s third loan placed on the MICEX. The Bank of Moscow was also the General Agent for the previous loans (of 500 million roubles and 1 billion roubles, respectively).

The bonds have a maturity of 4 years. Payments on coupons are made twice a year, the coupon rate for the securities being 10% per annum.

"The demand for the Republic of Karelia bonds exceeded the supply by 50% at the auction", notes Igor Frolovskiy, Head of the Department for Security Issues of the Bank of Moscow. "The volume of applications to purchase the bonds topped 1.26 billion roubles".

The co-organisers of the bonded loans were OAO Alians ROSNO Asset Management, ООО Broker’s Company REGION and ZAO Alor Invest.