OREANDA-NEWS. June 21, 2010. Sviaz-Bank acted as paying agent authorized by the Administration of Novorossiysk Municipality to pay interest on the sixth coupon and redeem 10% of par value of the Administration’s Series 34001 bonds, reported the press-centre of Sviaz-Bank.        

The bondholders were paid coupon interest at a rate of 13% per annum, or 22 rubles 69 kopecks per bond, and 10% of par value according to the debt repayment schedule. In all, 36,807,000 rubles was paid out.

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