SB Alfa-Bank OJSC floated at the exchange market of Kazakhstan 20.3 th. of its first issue bonds

/IRBIS, Apr 26, 02/ - As it was informed earlier, on April 19 at Kazakhstan stock exchange (KASE) there were finished specialized trades on initial floatation of inscribed coupon indexed non-subordinated bonds of Subsidiary Bank Alfa-Bank OJSC (SB Alfa-Bank OJSC, Almaty) of first issue (KZ2CKY06A497; official list of KASE securities under category "А", ALBNb1; KZT1.5bn; KZT15,000; Feb 28,02 - Feb 28,08; semiannual coupon at 9.0% APR). Floatation was made in trade system of the exchange through the method of open trades each day from March 18. During the trades there were not made deals. Maximal yield of bonds on supply reached 9.70% APR, whereas minimal yield on demand accounted for 9.95% APR. At the same time, the issuer held bonds' floatation at over-the-counter market. According to the bank's information, presented to day to KASE, on April 03 the bank floated at domestic market of Kazakhstan 20,300 bonds for total amount of more than 300m at a rate 152.55 tenge per one USD. "This volume is the first part of the issue, which has been planned by floatation for this moment. The rest volume of the issue in the amount of 1.2bn tenge the bank plans to float according to need in funds of the bank's clients," is said in the report of SB Alfa-Bank OJSC. Based on the bank's data, as for the moment of floatation of first part of the issue an indexed par value of each bond accounted for 15,071 tenge. Floatation was held at a price 99.3396% from indexed par value of security that corresponds to a net price at 14,971.47 tenge and yield to maturity for the buyer at the level of 9.14% APR. "Main buyers of the first part of the ban's issue were mainly institutional investors including accumulative pension funds of Kazakhstan," says SB Alfa-Bank OJSC. Bonds of SB Alfa-Bank OJSC of first issue are included in official list of KASE securities under category "А" from February 28,2002. Trades with the bonds at the exchange are open from April 25,2002. Status of market-maker of ALBNb1 at KASE was given to KIB ASSET MANAGEMENT Ltd LLP (Almaty). According to issue terms, par value of ALBNb1 is indexed at rate of tenge devaluation (revaluation) to USD (Kd), which is calculated as a ratio of current weighted average rate of USD to tenge (Xt), formed at morning session of КАSE, to analogous rate (Xo) on the date of bonds' circulation starting (Kd=Xt/Xo, Хо=152,12). Another feature of bonds is their coupon rate, which is floating. During first 18 months of circulation of the bonds its size accounts for 9.0% in annual calculation from indexed par value of a security. For the next 18-month periods of circulation coupon rate is determined by a decision of the Board of the issuer and announced not later than 20 calendar days prior to the end of each 18-month period of circulation. At that a rate in any case cannot be lower than LIBOR rate on 12-month interbank deposits in USD for a date of announcement of a new coupon rate. [2002-04-26]