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North-West Telecom and Web-invest Bank to launch bond issue for 3 bln roubles |
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St.-Petersburg. September 30,.2004. Today North West Telecom (NWT) mandated Web-invest Bank to act as sole bookrunner and lead arranger for the bond issue for 3 bln. Sviaz-Bank will act as joint arranger. AVK Investment company is financial consultant of the issue.
The bond issue of NWT (S&P’s nat. scale - “ruBBB+”, int. scale - “B-/Positive”) will be third in company’s history. The nominal value of the issue is 3 bln roubles. Maturity is 6 years. Coupon rate is fixed.
Proceeds from the issue will be used for expansion and modernization of base network and development of intelligent and multiservice networks.
Venera A. Khusnutdinova, Deputy General director - Chief Financial officer of NWT, said:
«The company have selected proposal for bond arrangement with best offer for issuer and market. We are sure that experience and resources of Web-invest Bank as one of the leading banks on bond market will ensure the success of the transaction».
Web-invest Bank acted as arranger and lead manager of bond issue of Uralsvyazinform, joint arranger of VolgaTelecom’s bond issue , co-underwriter of bond issues of Dalsvyaz, UTK and CentrTelecom, arranger of Central Telegraph’s bond issue
Alexander Vinokurov, Chairman of the Board of Web-invest Bank, said:
«We are pleased to work with NWT and to participate in issuance of the bonds of biggest telecom company in North-Western Russia. High credibility of the issuer and its recognition by the market letting us to expect high demand from wide range of investors. This deal is affirming our commitment to providing clients with full set of investment banking services».
The launch of the issue of NWT is expected in the end of year 2004 – beginning of year 2005.
North-West Telecom (www.nwtelecom.ru) is one of the leading telecom companies in Russia. North-West Telecom provides a wide range of telecommunication services on the territory of the North-Western federal district. The area of the district is over 1,8 mln sq. km. The population is 14,5 mln people. Besides, more than 80% of the population in the North-West of Russia are urban residents. It is the highest index of population urbanization among federal districts. The total number of base telephone sets installed by the Company is 3,7 mln. The Company is growing rapidly. Total sale proceeds for the year 2003 were 12,3 billion roubles. Market capitalization is estimated USD 450 mln.
Web-invest Bank (www.web-investbank.ru) – one of the leading Russian investment banks. It’s main specialization is arranging, underwriting and trading in Russian corporate and sub-federal bonds. The Bank has participated in more than 50 bond issues with a total issuance value of around 70 billion roubles. Web-invest Bank constitutes the core of a diversified capital markets group with top positions in brokerage and asset management.
Sviaz-Bank was established in 1991. The Bank offers full range of banking products and services in 30 branches throughout Russia. This year Sviaz-Bank increased shareholder’s equity more then 14 times and entered top-60 of Russian banks. The strategic aim of the bank is to create leading universal bank of federal scale and international-level services.
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