UTK Paid out Ninth Coupon Yield on 03-Series Bond Issue
OREANDA-NEWS. On 17 April 2009 Southern Telecommunications Company (“UTK”) (RTS: KUBN, KUBNP; МICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reported that on 10th of April 2009 the Company paid out the ninth coupon yield on UTK series 03 bonds in full.
An 8.5%-interest rate per annum was assigned to the ninth coupon of 03-series bond issue by the Order of the Company’s General Director of September 20, 2007. The amount of the ninth coupon yield to be paid on 03 series bonds totals 149,170,000 roubles. Thus, 42.62 roubles shall be paid out per each bond of the issue.
Information about the bond issue:
UTK’s issue of 03-series non-convertible interest-bearing documentary pay-to-bearer bonds is for a total of RUR 3.5 bln with maturity of 5 years (1830 days), semi-annual coupon periods (183 days) and a buyback option every year and a half. The interest rate of 12.3% per annum on the first, second and third coupons was fixed at the bond placement (October 6, 2004, MICEX). The coupon rate for coupons 4–6 was set at 10.9% per annum by the Company’s Board of Directors (Minutes № 28 of 24 March 2006). The coupon rates for coupons 7–10 was set by the Order of the Company’s General Director of 20 September 2007. The interest rate of 9% per annum was assigned to the seventh coupon, the interest rate of 8.5% per annum was assigned to the eighth and ninth coupons, the interest rate of 8% per annum was assigned to the tenth coupon. The state registration number is 4-07-00062-А dated August 17, 2004, trading codes are UTK-03оb., ISIN RU000A0DD202. Arranger of series 03 bond issue is AKB Rosbank. Co–arranger of the bond issue is Promsvyazbank. Financial Consultant is FFK. UTK-Finance Ltd. acts as UTK’s underwriter.
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