Company news in September 2004 | |||
NK Repays the 2nd Tranche of the 1st Bond Issue and Pays the Last Coupon and Additional Income on Them
Tyumen Oil Company (TNK) repaid bonds of the 2nd tranche of the 1st bond issue and paid the last coupon in the amount of RUR 54.745 million and additional income of RUR 221.452 million on them on September 6. The payments totaled to RUR 1.598 billion, informed International Moscow Bank that acts as the underwriter and the payment agent for the first issue. TNK’s bonds were repaid at their face value, i.e. RUR 1,000 per bond; in addition, additional income of RUR 167.59 per bond was accrued. In accordance with the bond issue decision, coupons on TNK bonds are paid taking into account fluctuations in the U.S. dollar exchange rate. When bonds are repaid, additional income is paid to investors, which makes up for impairment of the par value of bonds in connection with increase in the USD/RUR exchange rate, the bank explained. Coupon yield for the last coupon period was accrued at 7% p.a., or RUR 41.43 per bond. 1,321,393 million of bonds were submitted for repayment; earlier, the issuer made 3 offers for early redemption of bonds from their holders. As earlier reported by PRIME TASS earlier, the report on the 1st issue results was registered on October 18, 1999, TNK bonds were placed in tranches, by open subscription, using MICEX’s trading and settlement systems, at RUR 912 per bond. Total par values of the 1st issue is RUR 2,500 million. The total number of the 1st tranche placed bonds is 1,157,075 million. The maturity period of the 1st tranche 1st issue bonds (state registration No. 4-01-00168-Ŕ dated June 21, 1999) is 5 years, subject to granting to investors of the early repayment date in 2, 3 and 4 years from the placement commencement date. Bonds bear a half-year coupon in the amount of 7% p.a. First issue TNK bonds are included in MICEX’s quotation list, by resolution of MICEX Stock Exchange Board, Minutes No. 14 dated November 28, 2001. State Registration No. of the securities issue 4-01-00168-Ŕ dated June 21, 1999.
Source: PRIME TASS