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UTK

August 10, 2005

UTK announces the 3rd coupon income payment under series 02 bond issue

Krasnodar, August 10, 2005 – Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; ?ICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reports that on August 10, 2005 the Company paid out the third coupon income under UTK series 02 bonds (UTK-02?b., ISIN RU000A0AUU?0) in full. Total amount of the third coupon yield to be paid under all UTK series 02 bonds was fixed by the resolution of the Company’s Board of Directors (Minutes ? 22 of January 21,2005) at 12.0% per annum and made 89, 760, 000 rubles. The coupon income under one bond amounted to 59 rubles 84 kopecks. The cut-off date of the register of the holders of UTK series 02 bonds entitled to receive the third coupon income was July 29, 2005. Rosbank acts as UTK’s Payment agent for 02-series bond issue.

 

Information about the bond issue:

Volume of the issue of UTK series 02 non-convertible interest-bearing  documentary pay-to-bearer bonds is RUR 1.5 billion, the term to maturity is 3 years (1,092 days) with semi-annual coupon periods (182 days) and a buyback option every year  from the date of placement at 100 % of the par value. The first buyback option was executed in full through repurchase of 1, 092, 657 Bonds on February 16, 2005. The interest rate of 9.25% per annum on the  first and second coupons was fixed at the bond placement (February 11, 2004, MICEX). Effective redemption yield constituted 9.46% per annum at the bond placement. Secondary bidding started in the MICEX on April 8, 2004. The interest rate on the third and fourth coupons was fixed at 12.0% per annum. The interest rate on the fifth and sixth coupons is to be announced by the Company not later than 10 business days prior to the date of the fourth coupon payment.  State registration number of the bond issue is 4-06-00062-A of November 28, 2003; trade codes are UTK-02ob., ISIN RU000A0AUU?0. Organizer, Underwriter and Payment agent of the series 02 bond issue is OJSC AKB "Rosbank". “Investment company “AVK” acts as Financial Consultant. You can familiarize yourself with additional information on the bond issue here.

 

 

 

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