/KASE, November 29, 06/ - Kazakhstan stock exchange (KASE) informs
that on November 29 of 2006 the repeated auction on offering of
government long-term savings treasury obligations of Ministry of finance of
the Republic of Kazakhstan (MEUJKAM) was held in KASE's trade system
by the given bellow terms (Almaty time)
ISSUE PARAMETERS:
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Type of security: MEUJKM-180
National identification number: KZKAKY150035
Issue ordinal number: 3
Trade symbol on KASE: MUJ180_0003
Face value, KZT: 1,000.00
Bonds volume in circulation, 29,513,000
copies:
Circulation start date: April 18, 2006
The last day of circulation April 17, 2021
Maturity date: April 18, 2021
Circulation period: 15 years (5,400 days)
Coupon rate: 0.01% APR + inflation
Periodicity of coupon payment: once a year
Schedule of coupon payment
(structure/fact): 1 07.05.2007
2 07.05.2008
3 07.05.2009
4 07.05.2010
5 06.05.2011
6 07.05.2012
7 07.05.2013
8 07.05.2014
9 07.05.2015
10 06.05.2016
11 05.05.2017
12 07.05.2018
13 07.05.2019
14 07.05.2020
15 07.05.2021
Time basis actual/365
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OFFERING TERMS:
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The date of the repeated auction November 29, 2006
Number of days until paying-off 5,179
(duration)
Announced volume of offering, 11,000,000*
securities:
Trades object: the price, taking into
account the accumulated
interest
Stake of satisfied market bids. % 70
Bids submission method: closed
Bids acceptance time: 09:00 - 11:00
Bids confirmation time: 09:00 - 11:30 (Т+0)
Cut-off time: until 15:00 (Т+0)
Bids satisfaction method:
Limited (competitive) At claimed price
Market (uncompetitive) At weighted average price
Payment date: November 29, 2006
Payment time: until 15:00 (Т+0)
Accumulated interest by no information
payment date, %:
------------------------------------- -------------------------
*11.0 bn. tenge at face value
DEMAND PARAMETERS:
------------------------------------- -------------------------
Number of participants - primary 6
dealers:
Number of bids submitted (total / 26 / 24
active):
Including:
- limited: 21 / 19
- market: 5 / 5
Volume of active bids*, securities: 11,110,000
Volume of active bids*, KZT 10,936,980,720.00
Demand to offering, %: 101.0
Clean price for the given
limited bids, % APR (all / active):
minimal: 94.0300 / 94.0300
maximum: 104.9482 / 104.9482
weighted average: 98.6810 / 98.4427
Yield on submitted limited bids, % APR
(all/active):
minimal: 8.1440 / 8.1440
maximum: 9.5633 / 9.5633
weighted average: 8.9260 / 8.9576
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* active bids- bids not annulled by trades participants by the
moment of bids submission period expiration, including those,
confirmed by participants of Confirmation system; the amount
according to market
bids is calculated by weighted price of all active limited
bids RESULTS OF OFFERING
---------------------------------------------------------------
Volume of satisfied bids, securities: 6,910,000
Volume of satisfied bids, tenge: 6,985,196,520.00
Clean price in satisfied bids, %:
minimal: 97.9409
maximum: 104.9482
weighted average: 101.0882
Yield of bonds to maturity
for purchasers, %, APR:
minimal: 8.1440
maximum: 9.0276
weighted average: 8.6185
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Values of bonds profitability, given in the table, are prognostic. While
calculating the rate of the coupon on bonds for the current coupon period of
KASE (and all following periods), it was used the value at 8.185% APR. This
indicator made the sum of inflation index within the period since November
of year 2005 to October of year 2006, which is calculated by month indexes
of consumer prices by the formula, given in terms of MEUJKAM issue, and
so-called, fixed coupon - 0.01% APR, which is fixed for MEUJKAM -180 of
the third issue (KZKAKY150035) at the specialized exchange trades while
their first offering.
While submitting the bids for trades, primary dealers and their clients could
use the different method of calculation of the coupon rate, as a result of
which the calculated by them predictive profitability to maturity can differ from
the published data by Stock Exchange.
According to Central depositary of securities JSC (Almaty), all deals on
KZKAKY150035 MEUJKAM-180 offering by the end of settlements have
been executed by results of the trades.
Taking into account the earlier conducted offerings, the total volume of
MEUJKAM-180 (KZKAKY150035) made 36,423,000 bonds for amount of
face value at KZT36,423,000,000.00
MEUJKAM are the state bonds, offering of which takes place among
accumulative funds of Republic of Kazakhstan. Within the half of the term of
MEUJKAM circulation can circulate only among the specified category of
investors. Further bonds freely circulate at the market.
Indexation of money, invested in MEUJKAM, will be made by calculation of
the indexed coupon, gotten from composition of the fixed coupon,
determined while offering, and inflation index for the expired coupon period.
MEUJKAM were issued in compliance with Rules of issue, placement,
servicing and maturity of government treasury obligations of the Republic of
Kazakhstan (
http://www.kase.kz/mix/newgko.pdf), approved by Resolution of
Government of Kazakhstan dated September 8, 2004 #941 and took effect
since January 1, 2005.
MEUJKAM-180 of KZKAKY150035 is circulating at the secondary market of
KASE under specified in the table code. Bonds are quoted in KASE's trade
system in "dirty" prices.
[2006-11-29]