/KASE, July 11, 07/ - Kazakhstan stock exchange (KASE) notifies that on
July 11, 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)
Coupon rate 0.5% APR
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 of offering, copies: 14,000,000
Object of trades: "dirty" price of bonds
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)
Bids satisfaction method:
Limited (competitive) At stated price
Market (non-competitive) At average weighted price
Stake of satisfaction of market bids, %: 30
Date of payment: June 25, 07
Time of payment: till 15:00 (Т+0)
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* KZT15.0 bn. at face value DEMAND PARAMETERS:
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Number of participants - primary dealers: 6
Number of bids submitted (total / active): 48 / 48
Including:
limited: 48 / 48
market: 0 / 0
Volume of active bids*, copies 9,028,000
Volume of active bids*, KZT: 9,034,064,383.00
Bid to offer, %: 64.5
"Dirty" price on limited bids (all/actibe)
minimum: 98.0000
maximum: 100.9000
weighted average: 100.0672
Forecatsed yield to maturity for buyer, % APR (all / active):
Minimal: 8.52
maximal: 9.16
Average weighted 8.70
* 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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Volume of satisfied bids, copies: 9,028,000
Volume of satisfied bids, KZT: 9,034,064,383.00
"Dirty" price in satisfied bids, %:
minimal (cut-off): 98.0000
maximal 100.9000
average weighted 100.0672
Forecasted yield to maturity for buyer, % APR:
Minimal: 8.52
Maximal 9.16
Average weighted 8.70
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In total volume of active bids to the stake of subjects of pension market
came 51.7%, to the stake of one of banks - 45.5%, to the stake of broker-
daler organizations - 2.8%. Due to that the issuer had satisfied the while
demand, deals are characterized by the same indicators.
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 July 1, 2006 to July 1,
2007), starting from month consumers' price indexes, which are published by
Statistics agency of Republic of Kazakhstan, was 108.188. The above
means that predicting profitability to offered bonds maturity totals at present
8.688% 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.
[2007-07-11]