Results of the specialized trades on primary floatation of East- Kazakhstan oblast's municipal bonds of the second issue

/KASE, August 9, 02 / - On August 07, 2002 the specialized trades on primary floatation of coupon indexed bonds of local executive body of East Kazakhstan oblast of the second issue in KASE trade system. Only limited (competitive) bids were admitted to the trades. Bonds were offered by the issuer at face value. The subject of the haggling was fixed coupon interest rate, which will be paid to bondholders twice a year. The issuer has finally made up his mind about cutting-off only on August 9 for the bonds at this floatation are paid by the scheme T+2. Following are issue parameters and full floatation results. ------------------------------------------------------------------------------ Type of securities Inscribed coupon bond, indexed to fluctuations of KZT rate to USD NSIN KZF2KY030021 KASE trade code VKU036.002 Issue currency Kazakhstan tenge Servicing currency Kazakhstan tenge Type of indexation Par value at tenge rate of exchange to US dollar of the National Bank of Kazakhstan Par value KZT15,405 - $100 at the rate of the National Bank of Kazakhstan on the date of primary floatation Circulation start date (the first date of accumulated interest charging) August 10, 02 Maturity date (planned/actual) Aug 08, 05 Days in circulation 1,095 (3 years) Type of coupon Semiannual Coupon payments dates (planned/actual) 1 Feb 07, 03 / Feb 07, 03 2 Aug 09, 03 / Aug 11, 03 3 Feb 07, 04 / Feb 09, 04 4 Aug 08, 04 / Aug 09, 04 5 Feb 06, 05 / Feb 07, 05 6 Aug 08, 05 / Aug 08, 05 Register fixation term (coupon, repayment) 3 working days Authorized issue volume, KZT m 700,000,000.00 Calculation basis actual/365 ------------------------------------------ ----------------------------------- PARAMETERS OF THE SPECIALIZED TRADES ------------------------------------------------------------------------------ Date of specialized trades conducting August 07, 02 Time for applications presenting 9:00 AM - 4:00 PM ALT Payment date (till 4:00 PM ALT) August 09, 02 Offering volume, KZT 390,000,000.00 ------------------------------------------ ----------------------------------- Rate of KZT/USD on payment date 154.05 ------------------------------------------ ----------------------------------- PARAMETERA OF DEMAND ------------------------------------------ ----------------------------------- Number of participants - KASE members 4 Number of submitted bids 7 Volume of submitted bids, bonds 35,150 Volume of submitted bids, KZT 541,485,750.00 Bid to ask, % 138.8% Minimal rate on bid, %APR 8.4000 Maximal rate on bid, %APR 9.2000 Weighted average rate on bid, %APR 8.6609 ------------------------------------------ ----------------------------------- FLOATATION RESULTS ------------------------------------------ ----------------------------------- Volume of satisfied bids, bonds 12,150 Volume of satisfied bids, KZT 187,170,750.00 Set coupon rate, %APR 8.5000 ------------------------------------------------------------------------------ 86.77% of total volume of bid fell to the share of banks, 12.80 - to the share of their corporate clients, 0.43 - to the share of broker-dealer companies. Investors of other categories did not take part in the floatation. After conducting by the issuer the procedure of cutting-off that determined the size of coupon interest rate in the amount of 8.50%APR two bids were satisfied. At this, 98.8% of the floated bonds were purchased by a bank, 1.2% - by a broker-dealer company. By the results of the specialized trades the issuer floated 48.0% on the planned volume or 26.7% of the registered issue volume. The issuer in his notification about floatation results informed KASE about his intention to conduct in the nearest future additional bonds floatation, and also allows to start realizing of the regional investment program of the oblast. [2002-08-09]