OREANDA-NEWS. June 11, 2010. Sviaz-Bank acted as paying agent for VolgaTelecom OJSC to pay interest accrued on the ninth coupon and redeem 20% of the par value of the company’s Series VT-2 and VT-3 bonds, reported the press-centre of Sviaz-Bank.

The holders of Series VT-2 bonds were paid coupon interest at a rate of 9.5% per annum, or 18 rubles 95 kopecks per bond, and the holders of Series VT-3 bonds received interest at a rate of 8.5% per annum, or 16 rubles 95 kopecks per bond.

The total amount paid, including redemption of 20% of the par value of the bonds and personal tax charged on the VT-2 issue, reached 2,011,902 rubles 55 kopecks, and 498,985,000rubles on the VT-3 issue. The issuer itself acted as tax agent.

VolgaTelecom OJSC floated its five-year Series VT-2 and VT-3 bonds on December 6, 2005, to raise 3 billion rubles and 2 billion 300 million rubles, respectively. Sviaz-Bank acted as the managing underwriter of both issues.