Municipal bonds of East Kazakhstan oblast of second and third issues were admitted to circulation at KASE

/KASE, July 22, 02/ - By the decision of Kazakhstan stock exchange (KASE) dated July 22, 2002 on the grounds of Exchange Council decision dated July 19, 2002 inscribed coupon indexed bonds of local executive body of East Kazakhstan oblast of the second (KZF2KY030021) and the third (KZF2KY070035) issues were admitted to circulation at KASE. Mentioned securities received trade codes VKU036.002 and VKU084.003 accordingly. Accuracy of quotations in KASE trade system was determined to four decimal figures. Market-maker status of bonds at KASE according to submitted application was given to TuranAlem Securities LLP (Almaty). Bonds were issued in non-documentary form and have nominal value, which is equal to $100 equivalent in tenge. Equivalent of par value is calculated at the National Bank of Kazakhstan rate, set on the date of conducting of specialized trades on bonds floatation, which will be informed later. After circulation start indexation of nominal value of bonds will be carried out at the National Bank rate to the present date. Authorized volume of the second issue - KZT700.0m. Circulation term - 3 years. Authorized volume of the third issue - KZT2,000.0m. Circulation term - 7 years. Bonds are floated at nominal price at the specialized trades at KASE. According to results of these trades one interest rate for each bonds issue. Circulation of bonds starts from the date, next to the day of money inflow to account of the issuer (payment date) and stops 3 workdays prior to the interest payment date or bonds' maturity. Bonds settlement is conducted by the issuer in tenge with indexation of their par value to devaluation (revaluation) of tenge to US dollar at the official rate set by the National Bank of Kazakhstan to the date prior to the maturity date. Interest accumulation begins from the day after the day of money transfer to the issuer's account by financial agents for acquired bonds (payment date) and is made during the whole period of circulation, including the maturity date. Interest is accrued in tenge according to par value of the bond, indexed to devaluation (revaluation) of tenge to US dollar at the official rate set by the National Bank of Kazakhstan to the date prior to the interest payment date. Interest payment is carried out by the issuer twice a year - on the 182nd and 365th days of the corresponding year of bonds' circulation on the basis of actual/365 time base (actual number of days in the month, 365 days each year). Last interest payment concurs with the maturity date. The issuer has a right to execute to settle bonds before the appointed time with payment of interest accrued for their actual circulation time in the next perion of interest payment. Maintenance of register on bonds is conducted by Central depositary of securities CJSC (Almaty). Financial consultant of the issuer is TuranAlem Securities LLP. Legal consultant of the issue and the issuer - White&Case LLP (Almaty). Financial agent of the issuer - KASE. According to the resolution #654 of the Government of Kazakhstan "On local investment projects and borrowings of local executive body of East Kazakhstan oblast in 2002" dated June 15, 2002, to the decision #192 of East Kazakhstan oblast Akim "On measures for realization of local investment projects and borrowings of oblast budget in 2002" dated June 21, 2002, to the decision #13/2-II of the XIII session of East Kazakhstan oblast maslikhat of II calling dated February 08, 2002, money that might be received from the floatation of the bonds will be used to finance 2 local investment projects, including KZT2.0bn - on realization of "Ust-Kamenogorsk car assembling plant" project of BIPEK AUTO CJSC and KZT700.0m - on projects of small enterprises of processing industry and agriculture. More detailed issue parameters - dates of specialized trades conducting, order of payment on the first floatation, dates of circulation start and maturity of bonds at KASE, possibility of acquisition of the bonds at the expense of accumulative pension funds assets, will be informed additionally. [2002-07-22]