NSC OF KAZAKHSTAN HAS REGISTERED THE ISSUE OF BONDS OF JSC "KAZKOMMERTSBANK"

/IRBIS, 12.08.99/ - The National commission on securities of the Republic of Kazakhstan (NSC) by the Decree #399 at August 11, 1999 has registered the first issue of the bonds of KAZKOMMERTSBANK on the sum of 30,000,000 USD at the authorised capital of 34,251,453.36 USD. The bonds are the registered coupon obligations indexed to the devaluation, with nominal price 100 US dollars per bond and fixed coupon rate of 10% p.a. The debt service will be carried out in tenge at the current exchange rate. The coupon payment will be made 2 times per year. The IRBIS agency was not been able to elicit the maturity of bonds from the NSC and REUTERS materials known to it. The emitter supposes the open bonds placement. The date of placement will be announced during a month after registration of the issue. Taking into account, that the private pension funds are allowed to invest capital in the bonds of the emitters, which securities are listed in the official list of securities KASE under the "А" category, and KAZKOMMERTSBANK satisfies to this condition, the issue is directed straight to the private pension funds. Stock market of Kazakhstan had not such securities till now. KAZKOMMERTSBANK is the first Kazakhstan's company, which has received the international credit ratings.