RTS Stock Exchange Bonds: June Data

For the month of June total trading volume on RTS Bonds, the system facilitating trading of corporate, government, municipal debt, and Eurobonds, equaled 1 201 thousand dollars, down from 3 190 thousand US dollars in May. Moscow City Bonds accounted for 97% of total turnover; "Mellyanneft" bonds - for 2.2% of total volume, and "Slavneft" bonds - for 0.6% of total volume. In May fixed-income securities traded 24 times, down from 44 times in May.

Two bond IPOs took place on the RTS in June - of "Russki Produkt" and "Tatmetall" bonds. "Russki Produkt" offered its bonds on June 4th simultaneously on the RTS Stock Exchange and Moscow Interbank Currency Exchange. RTS sold 86% of the issued tranche, thus attracting 300 million rubles for the issuer.

"Tatmetall" initial public offering was held on two days - June 27th and June 30th. The first annual coupon rate - 18.5% APR - was determined on the first day of the IPO. 22 offers were submitted, worth 123,23 million rubles. On June 27th, 2003, 55 000 bonds were sold. On June 30th, 2003, the rest 45,000 bonds were placed.

The RTS Bonds trading system opened up on June 3, 2002. Currently 167 members of the Partnership, including 16 market makers, trade fixed-income securities on the RTS Stock Exchange. Daily RTS Bonds market information is available on the RTS server on the Internet.