/KASE, May 30, 07/ - Kazakhstan stock exchange (KASE) informs that on
May 30 of 2007 the repeated auction on re-offering of government long-
term savings treasury obligations of the 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: MEUJKAM-72
National identification number: KZKAKY060010
Issue ordinal number: 1
Trade symbol on KASE: MUJ072_0001
Face value, KZT: 1,000.00
Bonds volume in circulation, copies: 9,600,000
Circulation start date: April 27, 2007
Last circulation day: April 26, 2013
Maturity date: April 27, 2013
Circulation period: 6 years (2,160 days)
Coupon rate: 0.05% APR + inflation
Periodicity of coupon payment: once a year
Schedule of future coupon payments: 1 May 7, 2008
2 May 7, 2009
3 May 7, 2010
4 May 6, 2011
5 May 7, 2012
6 May 7, 2013
Time basis 30/360
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OFFERING TERMS:
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Announced volume of offering, securities: 14,500,000*
Trades object: "dirty" price of bonds
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 declared price
Market (uncompetitive) at weighted average price
Stake of satisfied market bids. % 30
Payment date: May 30, 2007
Payment time: up to 15:00 (Т+0)
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* KZT14.5 bn at face value DEMAND PARAMETERS:
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Number of participants - primary 3
dealers:
Number of bids submitted (total / 18 / 18
active):
Including:
- limited: 18
- market: 0
Volume of active bids*, securities: 17,250,000
Volume of active bids*, KZT 17,188,477,600.00
Demand to offering, %: 119.0
"Dirty" price for the given limited bids, % APR (all / active):
minimal: 92.8700
maximum: 100.7481
weighted average: 99.6433
Predictive profitability on submitted limited bids, % APR
(all/active):
minimal: 7.75
maximum: 9.55
weighted average: 7.99
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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
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Volume of satisfied bids, securities: 14,500,000
Volume of satisfied bids, tenge: 14,501,732,600.00
"Dirty" price in satisfied bids, %:
minimal: 99.3200
maximum: 100.7481
weighted average: 100.0119
Predictive bonds profitability to maturity for purchasers, %, APR:
minimal: 7.75
maximum: 8.06
weighted average: 7.91
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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 7,808% APR. This
indicator made the sum of inflation index within the period (since May 1,
2006 till May 1 2007), which is calculated by month indexes of consumer
prices by the formula, given in terms of MEUJKAM issue, and so-called,
fixed coupon - 0.05% APR, which is fixed for MEUJKAM -72 of the first
issue (KZKAKY100014) 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.
It is noteworthy that, while forming the bids register, KASE did not furnish the
issuer with data on prognostic profitability of bonds. The Ministry of Finance
executed cutting-off for the planned volume and at the dirty price of bonds.
According to Central depositary of securities JSC (Almaty), all deals on
MEUJKAM-72 of the first issue re-offering by the end of settlements have
been executed by results of the trade.
Taking into account the earlier conducted offerings, the total volume of
MEUJKAM-72 (KZKAKY100014) made 24,100,000 bonds for amount of
face value at KZT24,100,000,000.00
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.
Offered MEUJKAM are automatically admitted to circulating at the secondary
market of KASE under specified in the table code. Bonds are quoted in
KASE's trade system in "dirty" prices.
[2007-05-30]