The Committee on Municipal Loans and Stock Market Development of Moscow will hold an auction at MICEX today to place city bonds of the 19th issue. A representative of the Municipal Loans Committee told RBC that city bonds with a total face value of 500 million rubles (about $16.9 million) would be offered at the auction. The Garant M closed corporation will act as a seller at the auction. The total face value of the 19th issue of Moscow city bonds is 1 billion rubles (about $33.9 million). The face value of each bond is 1,000 rubles (about $33.85). The bonds have 6 coupon periods. The coupons are paid off each quarter, and the annual interest rate for the coupons is 15%. The date of redemption of the bonds is March 6, 2003.