OREANDA-NEWS. December 24, 2008. Sviaz-Bank completed the over-the-counter sale of bonds issued by the Novorossiisk administration, which were put on the OTC market, reported the press-centre of Sviaz-Bank.

The city’s administration had named the Bank its general agent. The administration had issued the bonds in an effort to raise 300 million rubles.

Under the issue terms, the bonds have a maturity of three years and will be paying the coupon yield at an interest rate of 13% per annum every quarter. As coupons are paid, the bonds will be redeemed, beginning with the third coupon right up to the 12th coupon, in equal shares at a rate of 10% of the par value of the securities.