/KASE, September 05, 02/ - Kazakhstan stock exchange (KASE) informs
that on September 10, 2002 the specialized trades on primary additional
floatation of East Kazakhstan oblast bonds of the second issue will be held
in the trade system of KASE.
Issuer of securities is the local executive body (akimat) of East Kazakhstan
oblast. Financial consultant of the issuer - TuranAlem Securities LLP
(Almaty). Legal advisor of the issues and the issuer - White&Case LLP
(Almaty). Financial agent of the issuer - Kazakhstan stock exchange CJSC
(Almaty). Register maintenance on bonds is carried out by Central depositary
of securities CJSC (Almaty). Market-maker status of bonds at KASE was
given to TuranAlem Securities LLP.
On the date of bonds floatation the issuer and its securities have no credit
ratings of the world rating agencies.
Bonds have been admitted to circulation at the Exchange by the decision of
KASE Board dated July 22, 2002 on the grounds of the Stock exchange
Council decision dated July 19, 2002.
Following are issue parameters, announced by the issuer and its financial
consultants, and also main floatation parameters.
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Type of securities Inscribed coupon bond,
indexed to fluctuations
of KZT rate to USD
Issue ordinal number 2
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 August 10, 02
Maturity date (planned/actual) August 08, 05
Days in circulation 1,095 (3 years)
Type of coupon Semiannual
Coupon rate 8.50% APR
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 700,000,000.00
Calculation basis actual/365
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Date of specialized trades conducting September 10, 02
Time for applications presenting 9:00am - 1:00pm ALT
Payment date (till 4:00 PM ALT) September 12, 02
Offering volume, KZT 310,007,020.00
Accumulated interest on settlement date 0.791781% of par value
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Indexed par value is calculated as a product of face value, mentioned in the
table (in KZT) and devaluation/revaluation temp coefficient (Kd), which, in its
turn, is calculated as a ratio of dollar official rate, determined by the
National Bank of Kazakhstan in tenge (Xt) on the current date to a similar rate
(Xo) on the date of circulation start (Kd=Xt/Xo, Хо=154,05).
Interest accrual on bonds begins from the day next to the date of money
transfer by financial agent and is made during the whole circulation period,
including maturity day. The issuer has a right to execute the prescheduled
bonds redemption with payment of interest for the time of actual presence in
circulation in the next period of the interest accrual.
The bonds are offered with prices, submitted in applications with fixed rate of
coupon interest. The subject of the trade is net bonds price, which enters
KASE trade system without taking accumulative interest into consideration in
percents to indexed par value with accuracy up to two decimal figures.
Number of bonds is stated in their par value and must be divisible to
KZT15,405.
Satisfaction of applications on bonds acquisition is carried out by results of
specialized trades after making a procedure of cutting with one-hundredth
step of price. Those applications are cut, whose prices will appear to be less
than cut-off price. All applications submitted with price equal or more than
cut-off price will be satisfied at price stated in the application. The issuer
may satisfy all or a part of applications, whose prices will be equal to
cut-off price. In this case the applications are satisfied in the submitted
order.
Only limited (competitive) applications are allowed to participate
during the specialized trades.
Applications can be submitted only by KASE members of "K": category (the
right to participate in trades in government securities, admitted to
circulation at KASE). Investors can present applications through broker dealer
companies, which are KASE members of this category. A complete list of "K"
category KASE members is shown in the Exchange site in Internet
(
http://www.kase.kz/kasemembers/).
Municipal promissory notes can be purchased by pension assets
management companies (PAMC) at the expense of pension funds accounts
only with presence of corresponding permission of the National Bank of
Kazakhstan, which is given for each issue. By the moment KASE has no
appropriate document regarding East Kazakhstan oblast's bonds of the
second and the third issues. The decision of the National Bank of
Kazakhstan regarding it will be announced later.
[2002-09-05]