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BSX Approves Listing of Renaissance Securities Trading Limited - Series 2 Equity Linked Notes Due 2008
Hamilton, Bermuda, 28 September 2005 - The Bermuda Stock Exchange (BSX) today announced the approval of the listing of the Series 2 Tranche A US$ 79,496,000 Equity Linked Notes of Renaissance Securities Trading Limited - Euro Medium Term Note Program (the "Program"). Renaissance Securities Trading Limited, a company incorporated in Bermuda on 2 February 1998, undertook the Program, which listed on the Exchange in January 2005. The listing of the Equity Linked Notes was effective as of 16 September 2005.
Under the Program, Renaissance Securities Trading Limited (the "Issuer") have issued Series 2 Tranche A of the Equity Linked Notes (the "Notes") in which the payments of interest and/or principal on the Notes are linked to the performance of the Ordinary Shares of Mobile TelesSystems (one of the largest mobile phone operators in Russia) which is quoted on the RTS and MICEX Exchanges.
The Notes were issued on 13 September 2005 and have a maturity date of 13 September 2008. The Notes were issued at 100 per cent of their aggregate nominal amount, with the total issuance under the Series not exceeding US$95,000,000.
Each Note issued by the Issuer will have the benefit of the guarantee of Renaissance Capital Holdings Limited as guarantor as to all amounts of principal and premium and interest, if any, payable on or in respect of the Notes. The maximum principal amount of Notes outstanding under the Program may not at any time exceed US$1,000,000,000 (or the equivalent in other currencies), provided that the Issuer reserves the right to increase such amount from time to time.
Renaissance Securities (Cyprus) Limited is the arranger for the Program.
Reid Services Limited sponsored the listing of the Series 2 Tranche A Equity Linked Notes of Renaissance Securities Trading Limited - Euro Medium Term Note Program. The Notes issued under the Program will be listed under the Listing Regulations for International Issuers of Debt Securities and the provisions for Restricted Marketing.