OREANDA-NEWS. June 05, 2009. Sviaz-Bank acted as paying agent authorized by VolgaTelecon, Ltd., to pay the accrued coupon interest and redeem 20% of the par value of the company’s Series VT-2 and VT 3 bonds.

The holders of Series VT-2 bonds were paid interest on the seventh coupon at a rate of 13% per annum, or 51 rubles 86 kopecks per bond, and the holders of Series VT-3 bonds collected interest on the seventh coupon at 8.5% per annum, or 33 rubles 91 kopecks per bond. According to the redemption schedules, the holders of Series VT-2 and VT-3 bonds were also paid 20% of the par value of the securities.

In all, the Bank paid 3,346,953 rubles 54 kopecks, including income tax, on Series VT-2 bonds, and 537,956,451 rubles on Series VT-3 bonds. The issuer itself acted as tax collection agent.

VolgaTelecom, Ltd., floated its Series VT-2 and VT-3 five-year bond issues on December 6, 2005, to raise 3 billion rubles and 2.3 billion rubles, respectively. Sviaz-Bank was managing underwriter of both issues.