OREANDA-NEWS. April 14, 2011. Sviaz-Bank acted as co-managing underwriter of Series 01 bonds offered by FSUE Post of Russia on public subscription on the MICEX Stock Exchange to raise 7 billion rubles. The bond issue was sold out completely on the first day of the offering, reported the press-centre of Sviaz-Bank.   

The first coupon interest rate payable on Series 01 bonds of FSUE Post of Russia was fixed at 8.25% per annum on the basis of the applications received. The second, third, fourth, fifth, and sixth coupons carry an interest equal to that of the first coupon, and interest on the remaining coupons is to be fixed by the issuer. The effective rate on a three-year option worked out at 8.42% per annum.

Each security has a par value of 1,000 rubles. The issue has a maturity of five years from the flotation commencement date and comes with a three-year option. Raiffeisenbank acted as the managing underwriter of the issue.

FSUE Post of Russia was instituted by a Government order of September 5, 2002. The enterprise was registered officially and adopted a Statute on February 13, 2003.

Post of Russia has 86 branches and almost 42,000 postal outlets offering postal services across the Russian Federation, including all cities, towns, and rural communities. Its work force of nearly 400,000 is one of the biggest in the country.