An underwriting syndicate has been set up for the placement of a new Southern Telecommunications Company bonds.  The project will be managed by Svyaz-Bank JSCB and include the following underwriters: IFC METROPOL, the REGION Group of Companies, the Capital Investment Group, Globex Bank, the Otkrytie Investment Bank, Promsvyazbank, Rus-Bank, Uglemetbank, and Dostoyanie. Asset Management will consist of the Deposit Insurance Agency, Novikom Bank, Nordea-Bank and RON-Invest will serve as the co-underwriters.
The Southern Telecommunications Company JSC will start issuing two billion rubles of First Series bonds on October 21, 2009.  The nominal value of each of publicly-offered bond will be 1,000 rubles, with the commercial paper maturing on October 17, 2012.
The bond will be issued through purchase-and-sale transactions that are concluded on the basis of bids sent to the seller of the bond (the Svyaz-Bank JSCB).