OREANDA-NEWS. September 22, 2010. Sviaz-Bank acted as paying agent authorized by the Novorossiysk Municipal Administration to pay interest on the seventh coupon and redeem 10% of the par value of Series 34001 bonds issued by the Administration, reported the press-centre of Sviaz-Bank.

The bondholders were paid coupon interest at a rate of 13% per annum, or 19 rubles 45 kopecks per bond, and 10% of the par value of the bonds in accordance with the debt repayment schedule. In all, 35,835,000 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.