On June 10, 2009 the Board of Directors of Sibirtelecom OJSC approved Decisions to issue securities of Sibirtelecom OJSC of three series of exchange-traded bonds and the Securities Prospectus.

The total par value of the issues of exchange-traded bonds is 4 billiard rubles. The form of bond issue: interest-bearing documentary exchange-traded bearer bonds with obligatory centralized custody, nominated in the currency of the Russian Federation. There is a possibility of early retirement of the bonds. The rate of the first coupon of the three series of exchange-traded bonds will be determined in the course of a tender held at MICEX Stock Exchange.    

An annual offer with respect to the bonds of the first series amounted to 2 billiard rubles is provided according to the requirement of bondholders. The bonds have 6 semi-annual coupons.

The amount of the bonds issue of series 02 is 1 billion rubles. The period of circulation and periodicity of coupon payments are equal to the first issue: 3 years and 6 months respectively. The earliest redemption on demand is possible in 1.5 years.

Bonds of series 03 in the amount of 1 billion rubles have the period of circulation of 400 days and two permanent coupons.

According to Securities Issue Standards and registration of the Securities Prospectus within the period of one month, Decisions to issue securities and Securities Prospectus will be forwarded to MICEX Stock Exchange CJSC for introduction of exchange-traded bonds placement. (Previously MICEX Stock Exchange CJSC won the tender for introduction   of exchange-traded bonds of Sibirtelecom OJSC placement).   

Financial resources attracted by issuing the exchange-traded bonds are planned to be used for the realization of the investment program and for refinancing of debt.

BALTINVESTBANK OJSC is the lead manager for issuance of exchange-traded bonds.

 

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