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Syndicate formed to place 'NPO Saturn' JSC bonds

 
22 March 2005

On March 22, 2005, Vneshtorgbank and the Bank of Moscow announced that a syndicate was formed to place RUR 1.5 billion nominal worth of bonds issued by 'NPO Saturn' JSC.

Co-underwriting the placement are International Moscow Bank, Rosbank, Russian Regional Development Bank, Web-invest Bank, Evrofinance Mosnarbank, HOMOS-BANK, Sviaz Bank, Conversbank, 'National Standard' Commercial Bank and 'SOYUZ' Commercial Bank.

The bond issue will be placed on the Moscow International Stock Exchange on March 24, 2005, by open subscription.

Russian Rouble-denominated interest-bearing documentary bonds on bearer issued by 'NPO Saturn' JSC with the nominal value of RUR 1.5 billion were registered on February 3, 2005 (State Registration Number 4-01-50001-А). The bonds' maturity is 1095 days (or 3 years), with six semi-annual coupons. The interest rate of the first coupon shall be determined by an auction to be held at the bond placement, the interest rate of the second coupon will be the same and the Issuer will set the rate of the remaining coupons. The issue provides for a put option to be exercised by the Issuer on March 28, 2006, at 100% par value.

Vneshtorgbank and the Bank of Moscow are arrangers of the bond issue. The Bank of Moscow is also a placement agent.

Federal Stock Corporation is a financial advisor to the issue, with the National Depository Center being a depository and payment agent.

Further information about the issue structure and financial position of the Issuer can be found in the issue documents and information memorandum placed on the web-site of the Issuer (www.npo-saturn.ru), Vneshtorgbank (www.vtb.ru) and the Bank of Moscow (www.mmbank.ru).


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