14 May 2010 13:44

MICEX allows Synterra

MOSCOW. May 14 (Interfax) - The MICEX's directorate decided on Thursday to allow two exchange bond issues from CJSC Synterra worth a combined 7 billion rubles into trading during a placement without listing, the company said in a statement.

Bond series BO-01 worth 5 billion rubles received registration number 4B02-01-38189-H. Series BO-02 worth 2 billion rubles received registration number 4B02-02-38189-H.

It was earlier reported that the company plans to place bonds at a face value of 1,000 rubles each by open subscription on the MICEX. The bonds will mature over three years. The issue includes an option for pre-term redemption at face value.

Series BO-01 consists of amortization bonds: 25% of par will be repaid after two years and after two and a half years and the remaining 50% will be repaid on the maturity date.

The company currently has a debut issue of bonds in circulation totaling 3 billion rubles. Those bonds mature in August 2013.

It was reported earlier that Synterra plans to invest roughly 1.7 billion rubles to develop regional subsidiaries. The sum does not include spending on M&A deals.

Synterra's debt declined 7% to 11.192 billion rubles in 2009. Net debt totaled 10.118 billion rubles at year-end.

The Synterra group includes CJSC Synterra, CJSC PeterStar, the satellite operator Global Teleport, and a number of regional operators. Synterra's trunk network stretches more than 75,000 kilometers, but the company does not disclose the relative proportion of rented and owned channels. Synterra is owned by Promsvyazcapital, which is controlled by Alexei and Dmitry Ananyev.