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UTK

March 17, 2004

On March 18, 2004 "UTK" PJSC Pays Out First Bond Coupon

On March 18, 2004 "UTK" PJSC pays out in full the first coupon yield on its 01 series corporate bond (???-01??., ISIN RU0009071088). On March 15, 2004 "UTK" PJSC transferred money resources to account of NDC sufficient for the forthcoming payments. The coupon income makes 71 ruble 01 kopeck under one bond. The total amount of yield to be paid to all holders of bonds is RUR 106,515,000.

On 18 September 2003 placement of "UTK" PJSC series 01 non-convertible interest-bearing documentary pay-to-bearer bonds was successfully performed in the MICEX Stock market section. Volume of bond issue is RUR 1.5 billion, the term to maturity is 1,092 days (3 years) with half-year fixed coupon at 14.24% annual rate and offer for the redemption - 1 year from the date of placement at 100 % of the par value. Arrangers of the series 01 bond issue are Promyshlenno-stroitelniy bank and Renaissance Broker.

During a circulation period (since October 31, 2003) effective profitability vs. repayment of UTK series 01 bonds has decreased from 13,93% to 9,32% in annualized terms by the beginning of March 2004. After 4 months of circulation owners who acquired UTK-01 bonds at their primary placement received income of 39% annual including 32.5% - from their price growth.

UTK series 01 bond issue has made a full turnover in the secondary market after 1.5 months of circulation. For 4 months of circulation in the MICEX trading volume of UTK series 01 bond stood at RUR 3, 340 mln, including RUR 815 mln for market transactions (ORT) (24% of the total trading volume), RUR 1,719 million - for negotiable transactions (RPS) (52%) and RUR 805 million - for REPO transactions (24%).

Total number of transactions has made 988 deals including 785 market transactions (79%), 154 negotiable transactions (16%) and 49 REPO transactions (5%). During the period of circulation the average-weighted price of UTK-01 bond is up 11,9% standing at 111.9% of par value as of March 15, 2004. Effective profitability vs. repayment of UTK series 01 bonds has decreased from 13,93% as at the first trading day to 9,05% as of March 15, 2004.

 

 

 

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