AFK Sistema to place credit line notes on European market

Before the end of January 2003 AFK Sistema will place $100m in credit line notes on the European stock market, the company press service reported to RosBusinessConsulting. The exact data about the issue was not disclosed by the company. However, the Trust and Investment Bank that is the organizer of the issue in cooperation with ING Bank's London branch, reports the following preliminary data on the issue: the volume of the issue is up to $100m, the coupon rate is 10.75-11 percent, the redemption term is one year, the minimal lot is $100,000, the first date of payment is February 5, 2003. The presentation of AFK Sistema's credit line notes for investors was held on January 28, 2003, and the organizers of the issue reported at the end of it that the current demand for the company's credit line notes exceeded $100m.