On July 12, 2004 Commercial Bank OBIBANK paid off the bonds convertible into OAO Rostelecom shares ahead of time. OBIBANK’s issue of bonds that might be converted into OAO Rostelecom shares was the first such project carried out by a Russian company. The project paved the way for the emergence of new financial products in the market. IFC Metropol acted as the lead manager, adviser and underwriter of the issue. As IFC Metropol General Director Mikhail Slipenchuk said, convertible bond issue turned out to be useful experience in introducing new investment products. “It was important to take this route to uncover potential obstacles. The experience we gained will be used in future as far as the Russian stock market is evolving,” Mr. Slipenchuk said. Bond holders were paid the nominal value of Rub 165 mn. Interests paid amounted to Rub 2,481,600; interests per bond equaled Rub 15.04.

Information about CB OBIBANK

OOO Commercial Bank “OBIBANK” (united investment bank) was created on the decision by the founders’ meeting on September 2, 1994 and registered with the Bank of Russia on December 26, 1994, No. 3185. The Chairman of the Board is Kichayev, Alexei Vladimirovich.
As of January 1, 2004 the bank assets equaled Rub 1,877,925 ths., the equity – Rub 232,088 ths., the authorized capital – Rub 218,369 ths.

The bank’s shareholders include OOO Investment finance company Metropol (51.36%) and the Russian Federal Property Fund (48.64%).

Address: 119049, Moscow, Ul. Donskaya, 13, bldg. 1.
Tel (095) 933-3323, fax (095) 933-4873, e-mail info@kb-obibank.ru