OREANDA-NEWS. November 15, 2007. In accordance with the terms of issuing and trading 1999 OGVZs (state registration number MK-00-139) Vnesheconombank acting as a paying agent and servicing depository for the Russian Finance Ministry repaid 1999 OGVZs having paid the balance of the principal in the amount of 50% of the bonds’ par value and the last half-year coupon at a rate of 3% per annum.

The amount of 1999 OGVZs issued into circulation was 889.7 million US dollars; the bonds were centrally serviced by Vnesheconombank’s Custody Department.

1999 OGVZs were issued in 2000 in order to restructure the government debt on third tranche OVGVZs 95.8% of third tranche OVGVZs issued into circulation were presented for novation. Holders of third tranche OVGVZs who failed to get their bonds novated on the set date can enter into an agreement with the Russian Finance Ministry on termination fee and get their bonds repaid.