NELE to raise funds through bond issue (Russia)

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NELE to raise funds through bond issue (Russia)

April 15, 2005

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Russian regional telecommunications company Sibirtelecom (NELE), a subsidiary of the Svyazinvest (SVIN) national telecom holding, plans to offer its fifth, 3 billion rouble bond issue on April 29. Promsvyazbank is the issue's lead manager. The yield of the bond issue is likely to be lower than 12.5 per cent, which was the yield of the bonds Sibirtelecom offered last year. Sibirtelecom plans to offer the sixth bond issue in June-August or September-November, depending on the company's borrowing needs and the market situation. The bond issue carries semi-annual coupons.