/KASE, June 6, 07/ - Kazakhstan stock exchange (KASE) notifies that on
June 6, 2007 the specialized trades for offering of government long-term
indexed treasury instruments of Ministry of finance of Kazakhstan
(MUIKAM) were held in KASE's trade system. Below are main parameters of
the issue, terms and results of offering (Almaty time):
ISSUE PARAMETERS:
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Type of security: MUIKAM-72
National identification number: KZKBKY060019
Number of issue: 1
KASE trade code: MUX072_0001
Face value, KZT: 1,000.0
Date of offering: June 6, 2007
Offering date: June 6, 2007
Circulation start date: June 5, 2013
Circulation last date June 6, 2013
Circulation term 6 years (2,160 days)
Periodicity of coupon payment: once a year*
Schedule of coupon payments: 1 July 7, 2008
2 July 7, 2009
3 July 7, 2010
4 July 7, 2011
5 July 6, 2012
6 July 5, 2013
Time basis: 30/360
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* fifth working day of month after each full
12 calendar months of circulation OFFERING TERMS:
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Announced volume, KZT m: 15,000.0
Object of trades: fixed coupon
Special terms for trades with subject absent
Price of offering, % from face value 100.00
Stake of market bids' satisfaction 30
Bids submission method: closed
Time of bids submission: 09:00 - 11:00
Time of bids confirmation: 09:00 - 11:30 (Т+0)
Time of cut-off: till 15:00 (Т+0)
Time of payment till 15:00 (Т+0)
Bids satisfaction method: at cut-off price
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DEMAND PARAMETERS:
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Number of participants - primary dealers: 3
Number of bids submitted (total / active): 10 / 9
including limited: 9 / 8
including market: 1 / 1
Volume of active bids*, KZT m.: 10,500.0
including limited: 8,500.0
including market: 2,000.0
Bid to offer, %: 70.0
Rates of the fixed coupon
for confirmed bids, % APR:
minimum: 0.01 (7.66)
maximum: 1.00 (8.65)
weighted average: 0.3882 (8.040)
* active bids - bids not annulled by participants of trades
as of moment of period of bids'
submitting expire, including confirmed
by participants of Confirmation system OFFERING RESULTS
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Cut-off rate (fixed coupon rate, % APR): 0.50
Forecasted yield to maturity, % APR 8.15
Volume of satisfied bids, m. tenge: 9,500.0
Offering volume, % of plan 63.3
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All active as of moment of time of bids' submitting expire orders were given
to trades system of KASE by subjects of pension market of Kazakhstan.
According to data of Central depository of securities JSC (Almaty), all deals
on offering of MUIKAM-72 by the moment of completion of settlements
according to the results of trades have been executed.
Indexation of money, invested to MUIKAM is making by calculation of
indexed coupon, received from addition of fixed coupon, determined while
offering and inflation index for the past coupon period.
The current inflation rate for the last 12 months (from June 1, 2006 to June
1, 2007), starting from month consumers' price indexes, which are published
by Statistics agency of Republic of Kazakhstan, was 107.652. The above
means that predicting profitability to offered bonds maturity totals at present
8.152% APR on the conditions of received coupon rate interpolation for the
entire circulation term of securities. During submitting of bids for trades
primary dealers and their clients may use the other method of forecasting the
coupon arte, as the result of which the calculated by them forecasted yield to
maturity may differ from published by exchange.
Detailed information about MUIKAM is given in Rules of issue, offering,
servicing and maturity of government treasury instruments of
Kazakhstan (
http://www.kase.kz/mix/newgko.pdf), which were approved by
the resolution of Kazakhstan Government dated September 8, 2004 #941
and took effect since January 1, 2005.
Offered MUIKAM are automatically admitted to circulation on KASE's
secondary market under the symbol given in the table. Bonds must be
quoted in KASE's trade system in "dirty" prices.
[2007-06-06]