tuOREANDA-NEWS  On 25 February was announced, that Sviaz-Bank proclaimed winner of an auction held for a contract to manage and distribute trade bonds issues to be floated by the South Telecommunications Company (UTK), Ltd.

Other bidders at the auction were KIT Finance, Orgresbank, the Baltic Investment Bank, Uralsib Capital, and St. Petersburg Bank.

The total par value of all trade bond issues will amount to 10 billion rubles. UTK Ltd. plans to float seven bond issues by public subscription in 2009 and 2010 – three issues 2 billion rubles each and four issues 1 billion rubles each.

A single bond has a par value of 1,000 rubles, and the bonds will be issued as interest-bearing documentary bearer bonds to be kept at a central depositary.