The first bonds of Kazakhstan Mortgage Company CJSC of the first issue for KZT300 m has been floated at 10.75% APR

/KASE, November 18, 02/ - Kazakhstan Mortgage Company CJSC (Almaty) informed Kazakhstan stock exchange (KASE) with the official letter that on November 18 of 2002 there was held primary floatation of the first tranche of the company's inscribed coupon secured bonds of the first issue (KZ2CKY03A676, KASE's official "А" listing category, KZIKb1, KZT10,000, KZT1.5 bn, November 10, 02 - November 10, 05, semi-annual coupon with floating rate, tied to inflation) to the amount of the face value of KZT300 m. According to the issuer's information floatation was made at the rate 4.75% APR plus inflation index that is 10.75% APR. Thus there has been determined bonds' interest rate in the first coupon period. This rate will be in effect till May 10 of 2003 and after the mentioned date will be reexamined in accordance with bonds issue terms. The staff of investors, who purchased bonds, id not informed. It is not excepted that at present they are KIB ASSET MANAGEMENT Ltd LLP (Almaty) and Bank CenterCredit OJSC (Almaty) - the issuer's underwriters, who will start selling of bonds at open market in the nearest future. As the head of the department of transactions on securities of Kazakhstan Mortgage Company Mars Aldashov said to REUTERS, details of the deal will be announced by the issuer at the press-conference on Tuesday. [2002-11-18]