23 Июнь '08
The Krasnodar Region has paid $2.5m to redeem the first coupon on its 34002-series five-year bonds.
$63.4m worth of bonds to be redeemed by December 2012 were offered to public at the MICEX in December 2007. Interest is set for 8%, 7.9%, 7%, 6.5% and 6% on coupons 1-2, coupon 3, coupons 4-5, coupon 6 and coupons 7-10 respectively.
Face value redemption will be effected in phases: 25% is to be redeemed when the sixth and eighth coupons are paid for while the rest is redeemable on the date of the last coupon payment.
The issuer has announced the bonds will be offered in June 2009 at its 100% face value.
34002-series bonds are the only debt securities the Krasnodar Region has floated so far.