NOTC KazTransOil CJSC (Kazakhstan) repaid first coupon on bonds

/IRBIS, June 11, 01/ - On May 30, NOTC KazTransOil CJSC(Astana) released an information on repayment of first coupon of the company's bonds (first emission) on April 23 (KZ73LAONAA35; official list of the KASE securities of category "A"; code KZTOb; $30.0m; $100; Oct. 23,00 - Oct.23, 03; semiannual coupon at 9.0% APR, current market rate - 10.00%). The repayment was made in strict accordance to bonds servicing schedule. The amount of coupon payments was KZT169,527,179.25. Based on the emission parameters coupons are paid twice a year, on April 23 and October 23. The register is maintained by Fondovii Centre CJSC (Almaty, license #20050002, issued on Dec.12, 1996). All settlements are made in tenge at the official exchange rate set on payment day. The coupon is paid on 360/30 time base (360 days in a year, 30 days in a month). The register fixing period is 30 days prior to payment. The redemption of bonds will be made at their face value together with last coupon payment. Money raised through bonds' offering have been used to finance investment projects on modernization of existing and development of new production facilities. According to KASE, total of $25.01m (83.4% of emission volume) was floated by the beginning of 2001. Offering term is three years from interest accrual date or equal to circulation period. Meanwhile, the issuer did not intend to offer the whole amount of bonds in 2000. Considering volume of accrued interest, the emission was not floated ion full volume. Thus, the issuer did change plans. As of Jan.01, 2001, (data of official the company' consultants) 46% of floated volume were bought by pension assets management companies (PAMC), banks - 53%, other investors - 2%. NOTC KazTransOil CJSC informed that actual offering volume equaled $20m. However, repayment volume stated in the press release suggests about larger amount that is close to data of KASE. The press release also informed that the company has prepared first emission of euronotes for a total of $100m. Lead-manager of the emission is JP Morgan Securities Ltd., loan term would equal 5 years. Funds raised through emission will finance Kenkiyak-Atyrau pipeline construction.