AvtoVAZ to Issue Bonds Totaling $31.57m

The Board of Directors of the AvtoVAZ Joint-Stock Company has made a decision to issue bonds totaling 1bn rubles. A representative of the company reported that the term of the bonds would be 360 days. 1m bonds with the face value of RUR1,000 ($31.57) each are to be issued. The bonds will be offered at the face value through open subscription at MICEX. Vneshekonombank will be the organizer, the underwriter and the agent for payments for the bond issue.

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