By Jennifer Chiou
New York, Aug. 19 - Sistema Joint Stock Financial Corp. said it sold 20 billion rubles of 14¾% five-year nonconvertible callable series 2 bonds on Tuesday on Micex.
The bonds, which priced at par, will be callable three years after issue, following the sixth coupon payment.
Sistema already noted that its board canceled its previous decision from February to call the bonds one year after issue.
The company previously said it also is planning an additional RUB 19 billion of series three bonds with a seven-year maturity for the fourth quarter or later.
Proceeds will be used to further improve the company's debt portfolio structure.
Sistema is a Moscow-based consumer services holding company.
| Issuer: | Sistema JSFC
|
| Issue: | Callable series 2 bonds
|
| Amount: | RUB 20 billion
|
| Maturity: | 2014
|
| Coupon: | 14¾%
|
| Price: | Par
|
| Yield: | 14¾%
|
| Call: | After three years
|
| Announcement date: | Aug. 11
|
| Settlement date: | Aug. 18
|
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