OREANDA-NEWS. On June 04, 2008 Russian Railways paid 166,16 million roubles on the seventh coupon of its Series 03 non-convertible semi-annual bonds, reported the press-centre of Russian Railways.

Based on a coupon rate of 8,33% per annum, payment on each bond with a nominal value of 1,000 roubles was 41,54 rubles.

The next Series 03 coupon will be paid on December 3, 2008.

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On December 8, 2004, Russian Railways issued its 3 Series bonds on the MICEX stock exchange in Moscow. The issue was arranged by KIT Finance and JP Morgan Bank and was worth 4 billion roubles. The coupon rate of at 8.33% per annum on the first bond was set at the auction.

The bonds are semi-annual and have a term of 5 years with no early redemption.