OREANDA-NEWS. May 27, 2009. Sviaz-Bank acted as paying agent for Sibirtelecom, Ltd., to redeem the company’s Series 07 bonds and make accrued interest payments. In all, the Bank paid 2,086,259,742 rubles, less tax. The issuer itself fulfilled the functions of tax agent, reported the press-centre of Sviaz-Bank.

The holders of interest-paying book-entry nonconvertible bearer bonds were, as a result, paid the full par value of their securities exactly on time, and also received coupon interest at a rate of 8.65% per annum, or 43 rubles 13 kopecks per bond.

Sibirtelecom, Ltd., floated its Series 07 three-year bonds on May 24, 2006, to raise 2 billion rubles. Each bond carried six coupons paying a fixed interest of 8.65% per annum. Sviaz-Bank was the managing underwriter for the issue.