ON OCTOBER 10 AT KASE THERE WILL BE HELD SPECIALIZAED TRADES ON PRIMARY FLOATATION OF BONDS OF ASTANA CITY OF THE FOURTH ANF THE FIFTH ISSUES
/KASE, October 10, 02/ - Kazakhstan stock exchange (KASE) informs that on October 10 of 2002 KASE trade system there will be held specialized trades on primary floatation of Astana city's bonds of the fourth and the fifth issues.
The securities' issuer is local executive body (akimat) of Astana city. The issuer's financial consultants - Fondoviy service CJSC (Almaty), Astana-finance OJSC (Astana), CAIFC Company CJSC (Almaty). Juridical consultant of the issuer and the issue is KAZAKHSTAN LEGAL GROUP LLP. The issuer's financial agent is Kazakhstan stock exchange CJSC (Almaty). Register on bonds is maintained by Central depository of securities CJSC (Almaty). Status of bonds' market-maker at KASE has been given to Fondoviy service CJSC (Almaty).
On bonds floatation date the issuer had rating Ba3 (stable outlook) in foreign and national currency from rating agency Moody's.
The bonds have been admitted for circulation at the stock exchange by the decision of KASE Board dated October 9 of 2002 on the basis of the stock exchange's Council's decision of the same date.
Below are the issue's parameters, which have been announced by the issuer and his financial consultants, and also main parameters of the floatation.
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Type of security inscribed coupon mid-term
indexed bond
Ordinal number of the issue 4 5
NIN KZZ4KY030048 KZZ4KY040054
KASE trade code AST036.004 AST048.005
Registration number of IRBIS 4/36AST 5/48AST
Issue currency KZ tenge
Servicing currency KZ tenge
Type of indexation face value at the rate of KZT to USD
of the National Bank of Kazakhstan
Par valueл KZT100
Circulation starting date Oct 11, 02 Oct 11, 02
Maturity date (planned / actual) Oct 9, 05/Oct 10, 05 Oct 9, 06/Oct 9, 06
Circulation term 1095 days (3 years) 1460 days (4 years)
Type of coupon semi-annual semi-annual
Coupon rate (interest rate) is the subject of haggling
Dates of coupon payments
(planned / actual) 1 Apr 10, 03/Apr 10, 03 Apr 10, 03/Apr 10, 03
2 Oct 10, 03/Oct 10, 03 Oct 10, 03/Oct 10, 03
3 Apr 9, 04/Apr 9, 04 Apr 9, 04/Apr 9, 04
4 Oct 9, 04/Oct 11, 04 Oct 9, 04/Oct 11, 04
5 Apr 9, 05/Apr 11, 05 Apr 9, 05/Apr 11, 05
6 Oct 9, 05/Oct 10, 05 Oct 9, 05/Oct 10, 05
7 - Apr 9, 06/Apr 10, 06
8 - Oct 9, 06/Oct 9, 06
Register fixation term 3 working days 3 working days
(coupon, maturity)
Announced issue volume, KZT 1,633.000.000.00 967,000,000.00
Settlement basis actual/365 actual/365
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Date of specialized trade conducting Oct 10, 02
Time of bids submitting for the trades 11:30a.m. - 1:00p.m. ALT
Payment date (till 4:00 p.m. ALT) Oct 10, 02
Floatation volume, KZT 1,630,000,000.00 967,000,000.00
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Indexed par value is calculated as product of the par value shown in the table (in KZT), and devaluation/revaluation rate coefficient (Kd), which is calculated as ratio of official US dollar rate set by the National Bank of Kazakhstan towards KZ tenge (Xt) on current date, to similar rate (Xo) on bonds' circulation starting date (Kd=Xt/Xo, Хо=154,50).
Interest rate charging on bonds starts since the date, which follows the day of money transfer by the financial agent for the bonds purchased by buyers at primary floatation to the issuer's account, and is made during the whole circulation term, including maturity day. The issuer has the right for prescheduled redemption of bonds with interest payment for the time of their actual being in circulation in the next period of interest rate charging.
Bonds are offered at the specialized trades at the face value. Subject of haggling is coupon interest rate, which is introduced in KASE trade system as the price in percentage towards face value in annual expression. Number of bonds is shown in their face value.
Satisfying of bids for bonds purchasing is made by the issuer by the results of specialized trades after conducting of cutting-off procedure by a step of one hundredth of the rate's value. Bids, yield in which exceeds the rate, which has been chosen by the issuer as cutting-off rate, are cut off. All bids, which are submitted at the rate that equals or less than cutting-off rate, are satisfied at the single yield, which equals to cutting-off rate. The issuer may satisfy all or a part of bids, rates in which equal to cutting-off rate. In this case bids are satisfied in submitted order.
Only limited (competitive) bids are admitted to the specialized trades.
Bids may be submitted only by KASE members of "К" category (the right to participate in trades in government securities, which are admitted for circulation at the stock exchange). Investors may present bids through broker-dealer companies, which are KASE members of this category. The full list of KASE members of "К" category has been published in the stock exchange's site in the Internet ( see more
[2002-10-10]