Vnesheconombank redeems $3.41bn in bonds

The Russian bank Vnesheconombank, an authorized agent for the Russian Finance Ministry, has paid coupons on Internal Foreign Currency-Denominated Government Bonds (OVGVZs) of the 4th issue worth of $3.41bn at par, which is 98.5 percent of the total number of bonds issued.

The bank has also made payments for OVGVZs coupons of the 6th and 7th 2002 issues and for six-month OVGVZs coupons of the year 1999.

The payments were made to those bondholders who had presented their bonds themselves or through other depositaries. The bondholders who failed to present their bonds for redemption are authorized to do so any time after May 16, 2003 over the next 10 years.

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