Ural Bank for Reconstruction and Development Finance Ltd makes 25.22 million RUR worth of bond coupon payments

The Ural Bank for Reconstruction and Development Finance Ltd (a company fully owned by the Ural Bank for Reconstruction and Development of Yekaterinburg) made 25.22 million RUR worth of the fifth coupon payments on its three-year bonds. The payments came to 25.55 RUR per one bond with face value of 1,000 RUR, which means the annual interest rate amounted to 10.25%.

The Ural Bank for Reconstruction and Development Finance Ltd went through with 1 billion RUR worth of bonds at MICEX stock exchange on July 6, 2007. The first coupon annual interest rate was then determined at 11%. On June 21, 2007, the company set the fifth to eighth coupon interest rates at 10.25% a year; after the eighth coupon payments have been made, another offer for bondholders can be made available. The ninth to twelfth coupon interest rates are to be determined by the issuer later on.

The bondholders will receive 25.55 RUR for every 1,000-ruble bond every quarter for the whole duration of the fifth to eighth coupon periods. The sixth, seventh, and eighth coupon payments must be made on January 3, 2008, April 3, 2007, and July 3, 2007, respectively.

The company decided to go through with the bonded loan in order to attract finances needed to cut down on the resource cost and to diversify the sources that the bank used to cover its operations. Making the bank more profitable was another goal, the bank’s press officer reports.


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