MOSCOW, November 10 (RIA Novosti) - Russian railways monopoly RZD announced in a press release Thursday that it would place its sixth and seventh bond issues on the Moscow Interbank Currency Exchange (MICEX) November 16, totaling approximately $520 million at par value.
The issue volumes are, respectively, $347 million and $173 million; the terms are five and seven years; the coupon yields at maturity are expected at 6-7.5% to 6.3-7.8%.
Coupons on the bonds will be paid semiannually. The rate of the first coupon payment will be set through an auction, with subsequent rates equal to the first.
JP Morgan Bank and KIT Finance investment bank are acting as the placement agents; the latter is also the underwriter.
RZD currently has its first, second and third bond issues circulating on MICEX. They total $416.23 million, and their maturity comes in 2005, 2007 and 2009, respectively.
