OREANDA-NEWS. June 02, 2011. ITERA FINANCE has executed its obligations to buy non-convertible interest-bearing documentary bearer bonds of 01 series with obligatory centralized storage and the state registration issue number 4-01-36298-R as of October 11, 2007.

In accordance with the terms and conditions of the Offering Circular and the bond resolution, the Issuer was obliged to buy on May 30, 2011 its bonds at their face value from their holders who presented them for early redemption. The total of 418,211 bonds was offered. This accounted for 8.4 % the issue. Gazprombank acted as the Agent under the offer.

ITERA FINANCE, LLC placed the bond issue on November 27, 2007. Gazprombank acted as the organizer of the issue, while Sberbank, IK Capital and Rosbank acted as the co-organizers. Underwriters for the issue were Otkrytiye, Soyuz Bank, NRBank, Novikombank etc. The face value of the issue was RUB 5 billion, and the maturity was 5 years. The payment of a half-a-year coupon yield was provided for the bonds.

The rate for the eight, ninth and tenth coupon periods (from May 24, 2011 to November 20, 2012) was set by the Issuer at 8.5% per annum.

ITERA FINANCE is involved in raising monetary funds in the Russian securities market by way of issuing debt securities to finance the activities of ITERA Oil and Gas Company.

ITERA Oil and Gas Company is one of the larger independent producers and sellers of natural gas in the Russian Federation. It has been developing its own production of natural gas in the Yamalo-Nenets Autonomous District since 1998. The Company has invested over USD 2 billion in development of the gas production industry. ITERA was the first private company to commission gas fields in the North of Russia. The total of over 235 billion cu m of natural gas has been produced in the fields developed by ITERA.