Source Pravda.Ru

Finance Ministry to hold auction to place additional federal bonds

The Finance Ministry of Russia will hold an auction to place an additionaltranche of federal bonds with fixed coupon income of the 27018 series,totaling RUR5bn ($158.13m), today, the Finance Ministry's Press Servicereported. The date of redemption of the bonds is September 14, 2005. Thebonds have 14 coupons, and the coupon period is three months. The annualinterest rate for the coupons 1-6 is 14%, and the corresponding figure forthe coupons 7-14 is 12%.An auction for placement of federal bonds with debt amortization of the46001 issue, totaling RUR7bn ($221.38m), will also be held today. The dateof redemption of these bonds is September 10, 2008. The bonds will beredeemed in portions equal to 25% of the face value on the following dates:March 14, 2007, September 12, 2007, March 12, 2008, September 10, 2008. Thebonds have 24 coupons, and the coupon period is three months. The annualinterest rate for the first coupon is 15%, and the corresponding figuresfor the coupons 2-5, 6-9, and 10-24 are 14%, 12% and 10% respectively..