Results of the specialized trades on primary floatation of Atyrau oblast's municipal bonds of the 4th issue

/KASE, May 14, 03 / - On May 14, 2002 the specialized trades on primary floatation of coupon indexed bonds of domestic executive body of Atyrau oblast of the fourth issue in Kazakhstan stock exchange's (KASE) trade system. The issuer offered bonds at face value. The subject of the haggling was fixed coupon interest rate, which will be paid to bondholders twice a year. Only limited (competitive) bids were admitted to the trades. Following are issue parameters and full results of the floatation. ISSUE PARAMETERS ----------------------------------------- ------------------------------------ Type of securities inscribed coupon mid-term indexed bond NIN KZЕ4KY050046 KASE trade code ART060.004 Issue currency Kazakhstan tenge Servicing currency Kazakhstan tenge Type of indexation Face value at the rate of KZT to USD of the National Bank of Kazakhstan Par value KZT100 Circulation start date (the first date of accumulated interest charging) May 16, 03 Maturity date (planned/actual) May 13, 08 / May 13, 08 Days in circulation 1,825 (5 years) Type of coupon semi-annual Coupon payments dates (planned/actual) 1 Nov 13, 03 / Nov 13, 03 2 May 14, 04 / May 14, 04 3 Nov 12, 04 / Nov 12, 04 4 May 14, 05 / May 16, 05 5 Nov 12, 05 / Nov 14, 05 6 May 14, 06 / May 15, 06 7 Nov 12, 06 / Nov 13, 06 8 May 14, 07 / May 14, 07 9 Nov 12, 07 / Nov 12, 07 10 May 13, 08 / May 13, 08 Register fixation term at coupon payment 2 working days Register fixation term at maturity 3 working days Announced issue volume, KZT 3,400,000,000.00 Settlement basis actual/365 ----------------------------------------- ------------------------------------ PARAMETERS OF THE SPECIALIZED TRADES ------------------------------------------------------------------------------ Date of specialized trades conducting May 14, 03 Time for applications presenting 10:00a.m. - 1:00p.m. ALT Payment date (till 4:00 PM ALT) May 15, 03 Offered issue volume, KZT 3,400,000,000.00 ----------------------------------------- ------------------------------------ PARAMETERS OF DEMAND ----------------------------------------- ------------------------------------ Number of participants - KASE members 6 Number of submitted bids 10 Volume of submitted bids, bonds 25,030,000 Volume of submitted bids, KZT 2,503,000,000.00 Bid to ask, % 73.6% Minimal rate on bid, %APR 7.5000 Maximal rate on bid, %APR 9.0000 Weighted average rate on bid, %APR 8.4783 ----------------------------------------- ------------------------------------ FLOATATION RESULTS ----------------------------------------- ------------------------------------ Volume of satisfied bids, bonds 23,530,000 Volume of satisfied bids, KZT 2,353,000,000.00 Set coupon rate, %APR 8.5000 ------------------------------------------------------------------------------ After conducting of cutting-off procedure by the issuer that determined the coupon interest rate on bonds at the rate of 8.50%APR nine bids were satisfied. At this 36.12% of the floated bonds were purchased by banks, 63.75% - by their clients, 0.13% - a broker-dealer comapny. By the results of the specialized trades the issuer floated 69.2% of the planned issue volume. [2003-05-14]