OREANDA-NEWS. September 21, 2011. Sviaz-Bank credited all funds then due to the accounts of holders of the Novorossiysk municipality’s Series 34001bonds as payment of interest on the eleventh bond coupon and redemption of 10% of the par value of the securities, reported the press-centre of Sviaz-Bank.

The coupon interest was paid at a rate of 13% per annum, or 6 rubles 48kopecks per bond. The 10% of the par value of the bonds was paid back in accordance with the debt repayment schedule. In all, 31,944,000rubles was paid after taxes.

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