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MICEX starts trade in RBC commercial papers
RBC, 26.03.2008, Moscow 14:58:38.Trade in RBC Information Systems' commercial papers was launched on MICEX today, the stock exchange's press office said in an official statement. The respective decree was signed by MICEX's General Director Alexander Potyomkin on Tuesday. The securities with a maturity period of 364 days worth RUB 1.5bn (approx. USD 63m) were placed yesterday. The par value of each commercial paper is RUB 1,000 (approx. USD 42.19), and the annual interest rate is 12.25 percent. A total of 8 tranches of RBC's commercial papers worth RUB 12bn (approx. USD 506m), including yesterday's issue, have been registered. Proceeds from the issues are to be used to restructure the company's current debt.
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