HÜVITUSFOND

ANNOUNCEMENT

29.03.99

 

The Supervisory Board of the Compensation Fund approved on its 

26.03.99 meeting the terms for the initial closed offer of the 

XIII-series bonds.

 

The nominal price and redemption price of the bonds is 100 EEK. 

The XIII-series issue is closed, to be matured in 1 year. 

 

The offer price is 96 EEK per bond. The offer price in EVPs 

(Estonian Privatisation Vouchers) will be calculated on the 

basis of weighted average price of EVP on the Tallinn Stock 

Exchange during the period of 10.03.1999 to 10.04.1999. The 

annual coupon rate is 7 %.

 

Proceeding from the issue price and base interest, the annual 

yield of the bonds is 11.5 %. The coupon payments to the 

bondholders are exempt from income tax.

 

The issue will take place from April 12th to 14th. The volume of 

issue is 30 million EEK. 

 

 

 

Andres Laisk

Public Relations manger

Hüvitusfond

Tel. +372 665 1812