Bonds of VITA LLP (Kazakhstan): brief information of the first issue

/IRBIS, Dec.7, 00/ - Following is a brief review of the first bond issue of VITA LLP (Almaty). The information is published in connection with admission of the bank bonds into official list of securities, category "B". The first issue bonds of VITA LLP (KZ26KA5S6998) were registered with the National Securities Commission of Kazakhstan (NSC) on Dec.28,98 under the number A5 in the state register of the securities. The issue volume equaled 100,000 bonds with KZT100 face value (KZT100 mln). December 28, 98 was used as the issue date. The repayment began on December 29, 99 and ended December 29, 00. The NSC has set the circulation term as such. The circulation of the bonds ends after twelve months from the state registration of the issue. Floatation ends after nine months from the state registration of the issue. Repayment starts from the next day after the circulation ends, that is, after twelve months from the state registration of the issue. Coupon rate was set by the issuer at 15% APR expressed in dollars. The bonds were offered at face value. With that, the purchasing amount was calculated in dollars at current rate of the National Bank of Kazakhstan. Coupon was paid on 15th of each month. The repayment was also conducted at face value. Issue prospectus provided for the drawings of the prizes. The numbers of personal accounts of the bond owners were used in the drawings, the size of the prize was proportionate to the number of bonds in the personal account. It was the first bond issue in Kazakhstan registered by private company. The issue goal of the bonds was to attract the public money to increase working capital of the issuer. Based on the application made by one of the trade members of the KASE, the bonds were admitted to the trades of the Exchange on May 5, 99 in "Non-listed securities" sector under the second admittance level and assigned a trade code VITAb. All issue volume of the bonds was floated through the Exchange on September 28, 1999 at $0.71 per bond. Due to the end of the circulation the bonds were removed from the trade lists of the KASE on January 12, 2000. No deals were made in these bonds while they were in the trade lists of the Exchange. Based on the documents presented to the KASE, this issue of the bonds was completely repaid on January 29, 2000 with simultaneous payment of the coupon.