Magnesite Group makes first coupon payment of 73.680 million RUR

29 June 2006 (13:28)

On June 22, 2006, Magnesite Group Ltd., which issued a loan on debentures guaranteed by Magnesite Industrial Group JSC in December 2005, made the first coupon payment of 73.680 million RUR, the company’s spokesperson said to UrBC representative.

The list of bondholders was finalized on June 13, 2006; this list included both investors who took part in the initial auction and the new ones who bought the bonds on the market.

Since the beginning of their life cycle, the securities issued by Magnesite Group Ltd. have been in great demand: the weighted average price came to 101.5% of the face value; besides, the volume of transactions at Moscow Interbank Currency Exchange has reached the point of 3,89bn RUR so far.

According to Magnesite Group Treasurer Ali Albetkov, the credit rating of their securities was appreciated on the market, and, should the company meet its financial goals in 2006 and given the nice market opportunities, the coupon rate of interest for the 4th to 6th coupon period may go down by .2% to .4% after June 2007.

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