Salavatnefteorgsintez Petrochemical Plant to Place Bond Issue on February 14

Bashkirian-based Salavatnefteorgsintez is to place its first issue of bonds on the Moscow Interbank Currency Exchange on February 14. The company's management told Rosbalt's correspondent that all the bonds would be offered for public subscription.

Salavatnefteorgsintez hopes to use the issue to raise funds for completing a project to increase styrene production. The issue is made up of 300,000 bonds with a nominal value of 1,000 roubles (USD 31.4) each. The bonds are redeemable after 3 years. The 300 million rouble (USD 9.4 million) bond issue was registered by the Federal Commission for the Securities Market in December 2002.

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