In 2009 Samruk-Kazyna prepares KZT480 bn. bond issue for to sell to National Fund; plans another KZT480 bn. bond placement on KASE

/INTERFAX-KAZAKHSTAN, Astana, December 24, 08/ - National Welfare Fund Samruk-Kazyna in 2009 plans to borrow KZT480 bn. from the National Fund and another KZT480 bn. at the expense of placing bonds on Kazakhstan Stock Exchange (KASE), the head of the Fund, Kairat Kelimbetov informed. "Today we also started state registration of KZT480 bn. bond issue with the purpose to sell them to the National Fund" - he said at the government session in Astana on Tuesday. "The National Bank initiated a meeting on managing the National Fund, where bonds of the National Welfare Fund will be included in the list of instruments (allowed for investing funds of the National Fund - IF-K)" - K. Kelimbetov said in this regard. According to him, the question of borrowing from the National Fund will be considered at a meeting of the Board of directors of Samruk-Kazyna in early January next year. Besides, K. Kelimbetov informed that the National Welfare Fund is examining the issue of borrowing assets at the expense of bond sales on KASE, but these securities` issue can be realized only in August 2009. "In compliance with KASE Listing Requirements, this requires audit financial statements for 2008 but it will be ready only in June 2009. In this connection, the bonds can be placed through the Exchange in August 2009", K. Kelimbetov explained. He also said that after KASE Listing procedures are passed through, the State Fund will issue bonds with fixed coupon under 8 % APR for a 15 year maturity term. "At that, the total amount of program on the bonds issue will make KZT480 bn." - K. Kelimbetov said. KZT120.83 = $1. The National Welfare Fund Samruk-Kazyna JSC was established in October 2008 through a merger of Kazakhstan holding on state assets management Samruk JSC and State fund of sustainable development Kazyna. Samruk-Kazyna is a state holding company, possessing and managing the national companies in different fields of economy, including oil and gas sector, telecommunications, transport and national development institutions. Samruk-Kazyna is the operator of the government antirecession program. [2008-12-24]