/KASE, May 19, 10, the third passage after the quote was added/ - Halyk
Savings Bank of Kazakhstan (Almaty, hereafter - the Bank), listing on
Kazakhstan Stock Exchange (KASE), issued a statement:
Quotation begins
Halyk Bank of Kazakhstan (the Bank) is announcing that in accordance with item
11 of chapter 2 of the Instruction on normative values and STB prudential norms
calculation methodology dated September 30, 2005 No. 358 (amended) (the
Instruction), the Bank sent a notification to the Agency of the Republic of
Kazakhstan on regulation and supervision of financial market and financial
organizations (the Authorized agency) on the planned full premature redemption
of the third issue of coupon subordinated bonds of the Bank under the third bond
program (NIN KZP03Y10C590).
The Instruction says subordinated bonds may be fully and prematurely redeemed
after the decision of the Authorized agency saying the redemption consequently
will not entail violation of prudential norms.
Accordingly, the bank is planning to send to the Agency an additional letter on
the receipt of the above-mentioned decision in October 2010, a month before the
full redemption of the third issue of coupon subordinated bonds under the third
bond program.
After the receipt, a copy of the decision of the Authorized agency will be sent to
KASE.
In accordance with the Prospectus and the decision of the Board of directors
dated May 13, 2010 No. 88 the bonds will be redeemed prematurely at nominal
value in the tenge with simultaneous pay of the last accrued coupon interest
through transfer of funds within 10 days after fixing of the registrar for payment
of the principal and the last interest, that is in the period November 6 - 15,
2010.
Ends
On the basis of the mentioned above, it follows, despite the decision dated
May 13, 2010 on the premature redemption of the bonds, it is unlikely the bank
will deny in October 2010 the announced premature redemption of bonds
KZP03Y10C590 through the reasons mentioned above. KASE deems advisable
for investors to take the circumstances into account.
However, having had talks with the Bank and FSA, KASE is brining to notice of
traders that beginning May 19, 2010 at submission of orders to the KASE
trading system and calculation of yield on the bonds it is required to bear in
mind that the bonds will be redeemed beginning November 6, 2010.
The KASE Board on May 19, 2010 changed the maturity date for bonds
KZP03Y10C590 in the KASE trading system from November 6, 2018 to
November 6, 2010, which will accordingly affect YTM values computed by
the trading system.
Bonds KZP03Y10C590 (HSBKb14; KZT10,000, KZT5.0 bn, 06.11.08 - 06.11.18;
semiannual coupon 13.00 % APR) were listed on KASE in the first subcategory of
Non-rated debt securities beginning November 6, 2008. Trade therein was opened
January 13, 2009.
KASE news released May 14, 2010 "Directors of Halyk Savings Bank of
Kazakhstan decide to redeem bonds KZP03Y10C590 (HSBKb14)" at
http://www.kase.kz/en/news/show/1104160
[2010-05-19]