HÜVITUSFOND

ANNOUNCEMENT

09.03.99

 

 

HÜVITUSFOND WILL PAY 7.56% INTEREST RATE TO THE HOLDERS OF 

II-SERIES BONDS.

 

For the previous period, the bondholders shall receive a fixed 

interest of 7% + 1.94% for 104 accounting days during the I 

half year 1998, and fixed interest of 7% for 256 accounting 

days during the II half year 1998.

 

Interest shall be paid to the investors, who hold the 

respective bonds as of the end of the day of March 15, 

according to the data of the Estonian Central Depository for 

Securities. The interest income shall be transferred to the 

investors’ accounts once a year on March 17, or the first 

following banking day. The redemption date of II-series bonds 

is March 17, 2001. Hüvitusfond shall then buy back the II-

series bonds at nominal value, i.e. 100 EEK per bond.

 

On March 17, the holders of II-series bonds will receive a 

total of 2.268 million EEK in interest income. During the 

current year, Hüvitusfond has paid 6.39 million EEK of interest 

income to the bondholders. The total amount of interest income 

paid to the bondholders by Hüvitusfond is 109.8 million EEK, of 

which 47% (51.4 million EEK) was paid in 1998 and 1999. 

 

According to the opinion of Hüvitusfond’s analyst, proceeding 

from the issue price (61 EEK) and guaranteed 7% interest, the 

guaranteed yield for the II-series bonds is 18.2% (on annual 

basis). The additional interests, which are paid in accordance 

with the financial results of Hüvitusfond (average of 5.6% to 

the II-series bondholders), are added to that sum. 

 

Andres Laisk

PR Manager

Hüvitusfond

Tel +372 665 1812