Development bank of Kazakhstan CJSC informed about an ending of bonds floatation of the first issue in corpore
/IRBIS, June 07, 02/ - Today Development Bank of Kazakhstan CJSC (Astana)
informed KASE with official letter about the ending of floatation on May 24 of
its inscribed coupon indexed bonds of the first issue (KZ2CKY05A473; BRKZb1;
KZT4.5bn; KZT1,000; February 15, 02 - February 15,.07; semiannual coupon
8,5% APR) which were included into the official securities list of "A" category
at KASE from February 19, 2002.
Bank informed that it distributed a total authorized issue volume, or 4.5m of
securities. As the result of floatation, 62.8% of bonds in nominal equivalent
were purchased by the pension fund subjects of Kazakhstan, 28.8% - banks, 8.4%
- broker dealer companies' clients. At that on March 5 of the current year
1,525,793 bonds were sold on specialized trades at KASE, the rest were floated
on over- the-counter market on subscription and some part - on stock exchange
within the secondary trades framework.
In its letter Development Bank of Kazakhstan doesn't determine any price
parameters of the present floatation.
We remind that on specialized trades at KASE the bonds were floated with net
price 97.6437 of indexed nominal price that was corresponded to 9.1% APR yield
to maturity in dollar equivalent for the buyer.
Secondary trades BRKZb1 were opened at KASE from March 18, 2002. Since
this time 5 deals on this instrument amounted to $3,985,330.80
(KZT608,925,214.36, 611,000 bonds) were made. Return for the buyer varied
from 9.10% to 9.36% APR and in weighted average expression was equal to
9.20% APR. Three out of five deals mentioned above, according to seller, were
the primary floatation.