Railroad freight operator TransContainer has set the rates of coupons three and four of a first-
series bond issue for 3 billion rubles at 16.5% annually, the company said in a statement according to Interfax.
The company placed the bonds on March 4, 2008. The first coupon was set at 9.5% and the second coupon was equal to the first.
It was reported earlier that the bond issue carries a one-year offer.
The TransContainer board of directors on Thursday decided to buy back up to 3 million bonds as part of the offer, which is to take place on March 13. A TransContainer spokesman said the company is prepared to meet its commitments on the issue.
TransContainer placed the debut bond issue on the MICEX Stock Exchange on March 4, 2008. VTB Bank (RTS: VTBR), TransCreditBank (TCB) (RTS: TCBN) and Gazprombank arranged the issue.
The five-year bonds have ten semiannual coupons.
TransContainer, which began operating in July 2006, operates 44,600 heavy goods containers and 23,000 container wagons.
Russian Railways (RZD) (RTS: RZHD) owns 85% of TransContainer, the European Bank for Reconstruction and Development (EBRD) owns 9.25%, the investment funds Moore Capital Management LLC and GLG Emerging Markets Fund own 2.5% each, and Troika Dialog Investments Limited owns 0.75%.