VimpelCom's subsidiary to issue bonds

VimpelCom Finance, a subsidiary of Russia's second largest mobile operator VimpelCom, will issue bonds with a nominal volume of 3bn rubles (about $96m), the VimpelCom press service announced today. The corresponding decision was made by VimpelCom on March 27, 2003. Raiffeisenbank Austria will act as an organizer and underwriter of the issue. The bonds will be issued for three years with coupon payments every six months.

VimpelCom, rendering mobile services under the BeeLine trademark, was the first Russian company included on the NYSE listing.

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