OREANDA-NEWS. March 18, 2010. Sviaz-Bank acted as paying agent authorized by Novorossiysk’s Administration to pay interest on the fifth coupon and redeem 10% of the par value of the municipality’s Series 34001 bonds, reported the press-centre of Sviaz-Bank.

The bondholders were paid coupon interest at a rate of 13% per annum, or 25 rubles 93 kopecks per bond, and 10% of the par value of the bonds in accordance with the debt repayment schedule. In all, 37,779,000 rubles was paid out.

The Administration of Novorossiysk floated its first-ever Series 34001 three-year bond issue on December12, 2008, to raise 300 million rubles. Sviaz-Bank acted as the managing underwriter of the issue.