Municipal bonds of Astana city of the sixth issue have been admitted for circulation at KASE

/KASE, June 23, 03/ - By the decision of Kazakhstan stock exchange's (KASE) Council dated June 20 of 2003 inscribed coupon indexed bonds of domestic executive body of Astana city of the sixth issue (KZZ4KY040062) have been admitted for circulation at KASE. Bonds were issued in non-documentary form and have the face value of KZT100. Announced issue volume is KZT1.3 bn. Circulation term is 4 years. Bonds' face value is indexed on changing of the rate of tenge to US dollar and is calculated as the product of bond's face value (in tenge) and coefficient of devaluation/revaluation rate of tenge (Kd), which is calculated as ratio of US dollar's rate, which has been set by the National Bank of Kazakhstan to tenge (Xt) on the current date, to similar rate (Xo) on the date of bonds' circulation start date (Kd=Xt/Xo). The mentioned securities have been assigned trade code ASТ048.006. Quotation accuracy in KASE trade system is four decimal figures of clean price expressed as percentage of the indexed face value. Juridical consultant of the issue and the issuer is KAZAKHSTAN LEGAL GROUP LLP. The issuer's financial agent is KASE. Register on bonds is maintained by Central depository of securities (Almaty). Status of bonds' market-maker at KASE according to the submitted application has been given to the issuer's financial consultant - Fondoviy service CJSC (Almaty). Bonds are offered at the face value at KASE's specialized trades. Result of the trade is fixed coupon interest rate, which is to be agreed with the Ministry of finance of Kazakhstan. Bonds circulation starts since the date, which follows the day of money transfer to the issuer's account (payment day) - June 26 of 2003 and stops two working days before interest payment and three working days before bonds maturity date. Bonds redemption is made by the issuer in tenge at indexed on maturity date face value on the date, which was fixed as maturity date for corresponding issue - June 24 of 2007. Imposing of interest rate starts since the day, which follows the day of money transfer by the financial agent to the issuer's account for bonds purchased by investors at primary floatation, and is made during the whole circulation term, including maturity date, at the interest rate, which is determined by the results of specialized trades. Interest is imposed in tenge of bond's face value, indexed to devaluation (revaluation) of KZT to USD at the official rate, which is set by the National Bank of Kazakhstan on interest payment date. Interest payment on bonds is made by the issuer twice a year - on 182 th. and 365 th. days of corresponding bonds circulation year according to time basis actual/365 (actual number of days in the month, 365 days in the year). The last interest payment date coincides with bonds maturity day. If interest payment of redemption of bonds coincides with a day off, it's made on the next first working day, which follows the day off. The issuer has the right to make prescheduled bonds redemption with interest payment for their actual being in circulation in the next period of interest imposing. According to the resolution of the Government of Kazakhstan "About local investment project and borrowings by local executive body of Astana city for 2003" dated June 9 of 2003 #537 and decision of Maslikhat of Astana city dated April 8 of 2003 #222/42-II, money, which may be received from floatation of bonds of the sixth issue, will be used for financing of local investment projects "Building of the first turn of Vodno-zeleniy boulevard of the new administrative center of Astana city". Works on building of this boulevard were started in 2002 at the expense of funds, which had been borrowed by means of floatation of the issuer's bonds of the fifth issue in the amount of KZT967.0 m. [2003-06-23]