Magnitogorsk Iron & Steel Works (MMK) closed up the tender aimed at determining the coupon interest rate for its 5bn-ruble BO-01 bond issue valid for 1,092 days (3 year). The issue provides for an annual offer and the coupon period comes to 182 days. The investors placed 255 applications for the tender worth 19.9 billion RUR altogether, so the issue was actually oversubscribed by nearly 300%. According to the results of the tender, the annual interest rate for the first and the second coupons of MMK’s bond issue was set at 9.45%. The coupon yield during the first year of circulation will

Sverdlovsk Region Arbitration Court is to look into two claims laid by local banks against Pnevmostroymashina and PSM-Gidravlika on November 19, 2009. Sberbank of Russia’s Oktyabrskoye division 1794 wants to be paid 179.66 million RUR worth of debt and to have the defendants’ real estate assets (some buildings and land allotments) arrested. TransCreditBank demands that the defendants pay it 104.26 million RUR; the bank also asked for the seizure of their buildings and land allotments, but this application was turned down by the court. In the meantime, Pnevmostroymashina is already undergoing

Sverdlovsk Region Arbitration Court has recently started to process the claim laid by Mikhail Maksimov against Leonid Itskov and Uralincombank Ural Innovational Commercial Bank (UIC-Bank) regarding the plaintiff’s right to a shareholding in the bank’s authorized capital. The preliminary court hearing needed to understand all the circumstances essential to handling the claim and getting evidence and proof is to take place on Thursday. The whole thing began in July 2009 when the bank got many new owners. According to the company’s official website July listings, Leonid Itskov owned 7.52% of

Head of Russian Pension Fund’s Sverdlovsk Region division Sergey Dubinkin was detained on his way to Koltsovo Airport of Yekaterinburg on November 19, 2009. The operation was carried out by the officers of Ural Federal District’s division of the Ministry of Internal Affairs; this was done within the framework of the criminal lawsuit regarding the embezzlement of 955 million RUR belonging to the Pensions Fund from the accounts of Bank VEFK-Ural. The spokesperson for the law-enforcement agency reports Dubinkin was supposedly going to flee to Moscow. He is now kept in a detention ward. This head

Russkiy Narodniy Bank intends to make Uralvagonzavod Scientific and Production Corporation pay it over 10 million RUR. The bank placed a claim against Uralvagonzavod and Uralvagonagro with Sverdlovsk Region Arbitration Court and now insists on being paid 10,000,000 RUR worth of the promissory note debt, 106,944 RUR worth of interest, and 106,944 RUR worth of fines (as stated in Paragraph 48 on the Provision on Bills of Exchange and Promissory Notes. The defendant refused to agree with the claims since on the date the disputed promissory note was signed the company’s General Director Nikolai

Yekaterinburg-based Koltsovo Airport is going to raise its jet fuel prices by 3.3% on November 23, 2009. ‘The increase in our retail price is a follow-up on the rising supplier’s prices. All Russian airports have had to raise their prices recently, and ours is actually the same as the market’s average one,’ the airport’s press officer reports. The airport last changed fuel prices on September 18, 2009 when the price rose by 6.7%.