HÜVITUSFOND

ANNOUNCEMENT

29.03.99

 

TERMS FOR THE ISSUE OF HÜVITUSFOND XIII-SERIES BONDS

 

According to the 26.03.99 resolution of the Supervisory Board of the 

Compensation Fund, the initial closed offer of the XIII series bonds 

shall be officiated on the following terms:

 

 

Issuer:					Compensation Fund, Pärnu mnt.15, 

					Tallinn, 10141, Estonia

 

Registrar:				Estonian Central Depository for 	

					Securities Ltd.

					registry code: 01299716

 

Payment agent:				Estonian Central Depository for 	

					Securities Ltd.

 

Security:				Compensation Fund bond XIII -series

 

Type of issue:				Closed issue to pre-registered 	

					investors

 

Investors: 				financial institutions licensed by the 

					Bank of Estonia, professional 

					participants of the securities market 

					licensed by the Ministry of Finance, 

					insurance companies licensed by the 

					Insurance Inspectorate, fund managers 

					licensed by the Ministry of Finance, 

					non-resident financial institutions.

 

 

Volume of issue:			30,000,000 EEK 

	

Coupon value:				100 EEK

 

Number of bonds:			300 000

 

Coupon rate:				7% annual fixed + additional 0%

 

Frequency of interest payments:		annually

 

Redemption:				20.04.2000

 

Offer price:				Lowest offer price in EEK basis is 

					fixed at 96 EEK. Lowest offer price 

					in EVP (Estonian Privatisation 

					Vouchers) shall 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

					

 

Subscription period:			12.04 - 14.04.1999 at 3.00 p.m.

 

Settlement date:			20.04.1999