MGTS completes bond issue at MICEX

Moscow City Telephone Network (MGTS) has carried out the third issue of the series A documentary two-year bonds with the obligatory centralized storing (the state registration number 4-03-00083-A). According to the company's press service, the volume of the issue is 1m securities with a par value 1,000 rubles ($31.45); the total sum of the issue is 1bn rubles ($31.45m), the maturity is two years.

The first coupon interest rate has been set at 12.3 percent. The first coupon is to be paid off on August 12, 2003. The amount of submitted applications was about 5bn rubles ($157m).

The MGTS executives consider this placement as successful.

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