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14.06.06

RTK-Leasing, the largest Russian leasing company, placed the fifth bondissue

14th July, 2006, JSCRTK-Leasing placed its fifth bond issue at MICEX Stock Exchange.

As the result of the auction, the coupon rate for the first-yearfloatation was fixed by the Issuer at 8.80% p.a. Accordingly, the bondyield to annual quotation was 8.99% p.a.

53 bids equivalent to RUR 3.1 bln were made by investors during theauction. The rates, indicated by the investors in the bids, had therange from 8.50% p.a. to 9.50% p.a. In course of the auction the issuewas placed in full.

The bonds at the overall nominal value of RUR 2.25 bln were issued for4-year tenor. The issue stipulates for half-year coupons payment. Thefirst and second coupons were set at 8.80% p.a. The successive couponswill be determined by the Issuer no later than 5 days prior to theprevious coupon payment date. The issue will be repaid on 12th August,2010.

The issue structure provides for depreciation redemption as well: 10% ofthe current nominal bond value is repaid on each coupon payment date and30% - on bond redemption date. Based on the Issuer decision all the bondholders have an opportunity to call them for early redemption at 100%price of outstanding nominal value on 20th August, 2007.

The raised funds will be used to extend the primary business of theIssuer: for purchase of telecommunication and other equipment forsubsequent transfer to leasing.

Lead managers of the issue are Raiffeisenbank and Svyaz-Bank. Co-leadmanagers are Bank of Moscow, VTB24, Investment GroupKapital, Bank Petrokommerts and Sberbank. Underwriters are Standard Bank, Evrofinance-Mosnarbank, Rosbank and Bank Stroykredit.

RTK-Leasing is the largest leasing company in Russia, specializing inthe field of communication and telecommunication. Based on Q1 2006results the overall volume of the current leasing portfolio was RUR 30.1bln (VAT excluded). The main clients of RTK-Leasing (91% of leasingportfolio) are subsidiaries of JSCSvyazinvest.

Raiffeisenbank is one of the leaders of the Russian corporate bondsmarket. During the years 2001-2006 the Bank acted as a lead manager anda co-lead manager for 69 corporate bond issues at the overall nominalvalue of above RUR 187 bln.

ZAO"Raiffeisenbank Austria" ranks the 8th position among the largestRussian banks in terms of assets volume based on Q1 2006 results (CEAInterfax). As of today the Bank has 19 offices in Moscow, 5 offices inSaint-Petersburg and regional branches in Ekaterinburg, Samara,Novosibirsk, Chelyabinsk, Nizhniy Novgorod, and Krasnodar. Moody`sInterfax Rating Agency assigned the long-term national scale creditrating to Raiffeisenbank Austria at Aaa.ru and the short-term rating atRUS-1. Moody`s Investors Service assigned the following ratings to theBank: D Financial Strength Rating, Baa2 long-term and Prime-2 short-termforeign currency deposit ratings.

ZAO Raiffeisenbank Austria is a subsidiary of Raiffeisen InternationalBank-Holding AG (Raiffeisen International) that operates subsidiarybanks and leasing companies in 16 markets in Central and Eastern Europe.10 million customers are attended through more than 2,700 businessoutlets. Raiffeisen International is a fully consolidated subsidiary ofRaiffeisen Zentralbank Osterreich AG (RZB), which owns 70 per cent ofthe common stock, the remaining 30 per cent is free float and the sharesare traded on the Vienna Stock Exchange. RZB is the central institutionof the Austrian Raiffeisen Banking Group, the countrys largest banking group. It is a leading corporate and investment bank in Austria and also considers Central and Eastern Europe (CEE) as its home market.

JCS Joint-Stock Commercial BankSvyaz-Bank was established in 1991.

Based on the data ofConsolidated statistic information on the largest banks as of 1st June, 2006 of the Central Bank of the Russian Federation Svyaz-Bank entered the top-30 of the largest Russian banks. Svyaz-Bank is a participant of the compulsory deposit insurance system. The bank hasa network of 33 branches in the regions of the Russian Federation. Svyaz-Bank actively develops its investment banking business area, including corporate finance services and private banking.

 

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