OREANDA-NEWS. March 23, 2011. Sviaz-Bank acted at paying agent authorized by the Administration of the Novorossiysk municipality to pay interest on the ninth coupon and redeem 10% of the par value of the issuer’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 12 rubles 96 kopecks per bond, and 10% of the par value of the bonds in accordance with the debt repayment schedule. In all, an amount of 33,888,000 rubles was paid.

The Novorossiysk Administration floated its first-ever three-year Series 34001 bond issue on December 12, 2008 to raise 300 million rubles. Sviaz-Bank was the managing underwriter of the issue.