HÜVITUSFOND

ANNOUNCEMENT

11.01.99

 

 

ADDITIONAL INTERESTS FOR II HALF YEAR OF 1998, INTEREST RATES 

FOR VI-SERIES BONDS

 

The Supervisory Board of Hüvitusfond approved the 1998 II half 

year additional interest in the amount of 0 %. According to 

that, the interest paid to the holders of VI-series bonds in 

January is 7.846 % (on annual basis). The guaranteed interest 

income of the VI-series bonds is 7 %, plus the additional 

interest in accordance with the of the fund’s financial 

results.

 

The interests will be paid to the investors holding the 

respective bonds as of the end of the day of January 22, 

according to the data of the securities register of the 

Estonian Central Depository for Securities. The interest income 

will be transferred to the accounts once a year on January 24, 

or the first banking day following that date.

 

In January, Hüvitusfond will pay to the bondholders the 

interest income in the amount of 4.125 million EEK. Up to now, 

Hüvitusfond has paid to the bondholders a total amount of 

interest income 92 million EEK, of which 45 % (41 million EEK) 

was paid during the year 1998.

 

According to the evaluation of the analyst of Hüvitusfond, the 

guaranteed yield on the VI-series bonds can be approximately 15 

% (on annual basis), resulting from the issue price and 

guaranteed 7 % interest.  The additional interests are paid in 

accordance with the Hüvitusfond financial results (average of 

4.3 % for the VI-series bonds). Based on today’s market prices, 

the guaranteed yield is higher.

 

 

 

Andres Laisk

Hüvitusfond

Tel. +372 6 651 812