Bank CenterCredit OJSC (Kazakhstan) announced about beginning of floatation of its subordinate bonds of the third issue

/KASE, June 5, 03/ - Bank CenterCredit OJSC (Almaty) has presented Kazakhstan stock exchange (KASE) a message, which says about registration and beginning of floatation of the bank's inscribed coupon subordinate bonds of the third issue. The bank intends to include the issued bonds into KASE's official "А" listing category. Below is description of bonds according to presented information. -------------------------------------------------------------------------------- Type of securities: inscribed coupon subordinate indexed bond Type of indexation: coupon rate on inflation Type of debt: senior unsecured insubordinate NIN KZ2CRY07A750 Issue currency: Kazakhstan tenge (KZT) Servicing currency: Kazakhstan tenge (KZT) Date of issue registration: May 27, 03 Issue number in state register: А75 Face value in issue currency: 1.00 Date of circulation start (date of issue) 2,000,000,000 Circulation term: June 7, 03 Floatation term: 7 years Circulation term: 7 years Maturity date: June 7, 10 Coupon rate floating Time basis at all settlements 30/360 Register fixation term at coupon payment: 30 days before payment date Register fixation term at maturity: 30 days before maturity Market-maker and underwriter: KIB Asset Мanagement Ltd LLP(Almaty) Register maintenance: Tsentr DAR LLP (Almaty) Credit ratings of the issuer Fitch "B+" (stable) / "В" / "D/E" / "4Т" Moody's "Ва2" (stable) / "NP" / "D-" -------------------------------------------------------------------------------- Floatation and circulation of bonds Bondholders may be physical and juridical entities, residents and non-residents of Kazakhstan. Bonds are floated by means of open subscription and specialized trade conducting at KASE. Terms of interest payment and redemption Coupon rate is floating and depends on inflation level. Upper limit of interest arte is 21%. Lower level will equal to 6%. Interest rate is reexamined every 6 months since circulation start date. Incase the rate is changed, charging and actual payment of coupon interest by the issuer on bonds since the last reexamination of interest rate till the new reexamination date is made on the basis of interest rate of the last reexamination. Coupon interest on bonds (percents) is calculated as the sum of inflation index according to the date of Kazakhstan statistics agency for the last 12 months in the month in preceding the month, in which the rate is set or its reexamination is made, and 6%. Interest rate for the first 6 month of circulation is determined by the date of circulation start on the above-mentioned algorithm. Interest is paid twice a year on the basis of time basis 360/30 correspondingly in every six and twelve months since bonds circulation start every year till maturity date. Interest is paid to bondholders, who purchased securities not later than 30 days before the date of corresponding payment, and is calculated as product of face value, indexed interest rate and number of days in the period of interest charging, divided into 360. Decimal figures and method of rounding is set by КАSE's regulations. Bonds maturity is made at face value on maturity date along with the last coupon payment in tenge by means of money transfer to accounts of bondholders, which were registered in bondholders register 30 before maturity date. Prescheduled of partial redemption is not provided. Special terms In case coupon interest payment date, bond maturity date coincides with a day off, payment will be made on the first working day, which will follow the day off. No bondholder has the right to demand charging of interest or another compensation for such the delay of payment. [2003-06-05]