On November 10 Kazakhstan mortgage company CJSC will make the first tranche of its bonds in the volume of KZT300m

/Kazakhstan today, October 29, 02/ - On November 10 Kazakhstan mortgage company CJSC will make the first tranche of its bonds in the volume of KZT300m. About this a correspondent of KZ-today was informed in KMC CJSC. According to the words of the chief of the securities operations department of KMC CJSC Mars Aldashov, it is planned to make tranches in the future every month and during the half a year the company intends entirely to float the first issue of its bonds in the volume of KZT1.5bn with 3-year circulation term. At present National Bank of Kazakhstan has registered the first bonds issue of Kazakhstan mortgage company CJSC, and soon it is planned to include these securities into "А" listing of Kazakhstan stock exchange. "The securities are unique by their structure. They are unique because they have direct security as the rights of demand on credits. They have a number of preferences, which other corporate bonds do not have", - marked Aldashov. "The banks will examine these securities with the risk of 20%, whereas other corporate bonds of domestic issuers are examined as securities with 100% risk", - stated a representative of KMC CJSC. According to Aldashov's words, as the result of floatation coupon rate on these bonds may be lower by 2% than the primary floatation of corporate bonds in Kazakhstan, which was till now. [2002-10-29]