OREANDA-NEWS. On 29 June 2009 was announced, that the Board of Directors of Sibirtelecom approved decisions on issuing three series of bonded loans and also the prospectus issue.

The total nominal value of tradable bonds amounts to Rub 4 bln.  The form of issue is interest-bearing nominal stock market bonds payable to bearer with mandatory centralized storage at the National Depositary Center (NDC).  The terms of the issues provides for the option of premature redemption of the bonds. The rate of the first 03-series tradable coupon is to be determined at a MICEX auction.

Under the terms of the 01-series Rub 2 bln bond an annual put option is available to bondholders.  The bond carries 6 semi-annual coupons.

The total amount of the 02-series bond is Rub 1 bln.  The term to maturity and duration of the coupon payments are identical to the first issue: three years and six months, respectively.  The next redemption date will come in 1.5 years.

The 03-series Rub 1 bln bond carries a 400-day maturity and two continuous coupons.

In accordance with the Standards for Issue of Securities and Registration of Issue Propectuses, within one month the decisions on issuing securities and the Issue Prospectus will be forwarded to ZAO Stock Market MICEX for authorization of tradable bonds for circulation.  (Earlier, MICEX had won a tender for issuing a bonded issue of Sibirtelecom).

The proceeds from the issue are to be used for implementing the company’s investment program and refinancing its debt obligations.

The arranger for the operator’s tradable bonded loans is Baltinvestbank.