Sistema to make $32m bond issue this year

The Sistema corporation plans to make a bond issue totaling 1bn rubles ($31.7m) on the domestic market until the end of this year, an official of the International Bank for Reconstruction and Development said in an interview with RBC. The bank is going to be one of the organizers of the bond issue. The official did not mentioned parameters of the issue noting that they are being considered currently.

Moreover, the bank is the organizer of the third bond issue of the Moscow City Telephone Network (MGTS) and of a bond issue of the Moscow Cristall Plant. MGTS's bond issue scheduled for February 2003 will amount to about 800m rubles ($25.4m). Cristall is considering the possibility of issuing bonds totaling 300m rubles ($9.52m) with a three-year maturity period. Coupon payments are expected to be every six months. The date of the bond issue has not been defined yet, the official stressed.

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