On specialized trades on floatation of East Kazakhstan oblast bonds of 3rd issue demand exceeded offer by KZT410.8 th.

/IRBIS, August 07, 02/ - On August 07 on specialized trades on primary floatation of municipal coupon indexed bonds of East Kazakhstan oblast of the third issue (KZF2KY070035, VKU084.003; KZT15,405; KZT2,000.0m; August 09, 02 - August 07, 09), which were held at Kazakhstan stock exchange (KASE), bid became almost equal to offer. Bonds were offered by the issuer at par value (KZT15,405 or $100 at the rate of the National Bank to the date of primary floatation conducting). The subject of the trade was a fixed rate of coupon interest, which will be paid by the issuer twice a year according to actual/365 time basis. In total 3 applications from 2 KASE members were submitted and were amounted to KZT310,410,750.00 having an authorized offering volume of KZT310.0m. The rate value varied from 9.0% to 9.10% APR and in weighted average expression totaled 9.0496% APR. Out of the total bid 99.26% were submitted by commercial Kazakhstan banks, 0.74% - by broker dealer companies. Register of submitted applications were given to the issuer for carrying out cutting procedure During the previous primary floatation of these bonds, which was held on July 24, 2002 at KASE, the bid exceeded the offer by 1.98 times, and weighted average coupon rate, calculated according to all submitted applications, fixed at 9.6452%. We will remind that according to the results of these trades the issuer refused to float the securities with proposed price parameters. [2002-08-07]