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08/04/2008
Synterra is set to place series 01 bonds worth RUB 3bn (approx. USD 128m) by public subscription on August 7, the Russian telecommunications group said in a statement today. The interest rate is expected to reach 11-11.5 percent per year, and the securities have been included in MICEX's B quotation list.
Russia's Federal Financial Markets Service (FFMS) registered the issue and prospectus for Synterra's series 01 interest bearing non-convertible documentary bearer bonds in late September 2007. The offering is to consist of 3m bonds with a par value of RUB 1,000 (approx. USD 42.7). The funds raised will be used to make capital investment, refinance the company's existing loan portfolio, and create a public credit history.
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