On the 29th of March 2005 the  RF Federal Service for Financial Markets registered the Report on the Results of OJSC North-West Telecom’s Series 03 Bonds Issue. The Issuer floated 3,000,000 bonds having the face value of 1,000 roubles all in all worth of 3 billion roubles.  Soon, circulation of bonds in the secondary stock market will be arranged. 

The floatation of the OJSC NWT’s bonds issue was held at FB MMVB on the 3rd of March 2005.  The demand for the bonds exceeded the volume of the issue 2.5 times, which allowed to float the loan for one day.

The rate of the 1st coupon was established at 9.25% per annum.  The rates of the 2nd-12th coupons are equal to the rate of the 1st coupon. Upon expiry of the three years' period the issuer will take a decision on determining the coupon rates for the subsequent three years.  The coupon yield under the bonds is to be paid on a quarterly basis.   The payment under the first coupon will be effected on the 2nd of June 2005. 

OJSC NWT’s Bonds circulation period is 6 years, with the right of early presentation of bonds for redemption after three years.  A stage-by-stage retirement of the 3rd issue bonds is provided for. The retirement is to be effected in parts on the following dates:  on the 1820th day from the date of floatation start – retirement of 30% of the face value, on the 2002nd day – retirement of 30% and on the 2184th day – retirement of 40% of the bonds face value.

The organizer of the issue is Web-Invest Bank, the co-organizer is AKB Svyaz-Bank, co-underwriters are Vneshtorgbank, Gazprombank, Promsvyazbank, Bank SOYUZ, Bank of Moscow, WBRD, Eurofinance-Mosnarbank, Bank CentroCredit, Raffeisenbank Austria, International Bank of Moscow, Russian International Bank, ING Bank (Eurasia), Industry and Construction Bank, NOMOS Bank, FK URALSIB, BK REGION.