/KASE, May 12, 03/ - Kazakhstan stock exchange (KASE) informs that on May
14 of 2003 in KASE's Trade system specialized trades on primary floatation of
municipal bonds of Atyrau oblast of the fourth issue will be held.
The securities' issuer is domestic executive body (akimat) of Atyrau oblast.
The issuer's financial consultant is TuranAlem Securities LLP (Almaty).
Juridical consultant of the issuer and the issue is White & Case LLP (Almaty).
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 assigned to TuranAlem
Securities.
On bonds floatation date the issuer had long-term rating Ba2 on borrowings in
domestic and foreign currencies from rating agency Moody's Investors Service.
The bonds have been admitted for circulation at the stock exchange by the
decision of KASE's Council dated May 8 of 2003.
Below are the issue's parameters, which have been announced by the issuer
and his financial consultant, 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
NIN KZЕ4KY050046
KASE trade code ART060.004
Registration number of IRBIS 4/60ART
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 value KZT100
Circulation starting date (interest charging) May 16, 03
Maturity date (planned / actual) May 13, 08
Circulation term 1,825 days (5 years)
Type of coupon semi-annual
Coupon rate (interest rate) is the subject of haggling
Dates of coupon payments (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 redemption 3 working days
Announced issue volume, KZT 3,400,000,000.00
Settlement basis Actual/365
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Date of specialized trade conducting May 14, 03
Time for bids submitting to the trades 10:00a.m. - 1:00p.m. ALT
Payment date (till 4:00 p.m. ALT) May 15, 03
Floatation volume, KZT 3,400,000,000.00
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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, which were 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 entered into KASE's 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 (
http://www.kase.kz/kasemembers/).
[2003-05-12]