OMZ OJSC announced a decision on a Series 6 bond issue.

The announcement is based on a decision made by the Board of Directors at a meeting held 19 Dec. Bonds with RUR1.6 billion total nominal value are to be placed for five years (1,820 days).

The Series 6 issue is to be placed by public subscription with a pre-maturity buyback option on bond holders’ demand. Ten coupon payments are to be made within the bond maturity period. Par value of a bond will be RUR1,000.

Bond placement is to be held by public subscription at MICEX. The initial coupon rate will be determined at the auction. Gazprombank OJSC is arranger and underwriter of the bond issue.

Funds raised will be used for optimization of the structure of the company’s debt and for implementation of OMZ Group’s investment program.