/KASE, June 23, 03/ - Kazakhstan stock exchange (KASE) informs that on
June 25 of 2003 in KASE's trade system there will be held specialized trades
on primary floatation of Astana city's bonds of the sixth issue.
The securities' issuer is local executive body (akimat) of Astana city. The
issuer's financial consultants - Fondoviy service CJSC (Almaty). Juridical
consultant of the issuer and the issue is KAZAKHSTAN LEGAL GROUP LLP.
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 given to Fondoviy
service CJSC.
On bonds floatation date the issuer has long-term issuer credit rating and
senior debt rating on the level of "Ba1" in foreign and national currencies
from Moody's Investors Service. Rating was upgraded from "Ва3" on February 28
of 2003.
The bonds have been admitted for circulation at the stock exchange by the
decision of KASE's Council dated June 20 of 2003.
Below are the issue's parameters, which have been announced by the issuer
and his financial consultants, 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 6
NIN KZZ4KY040062
KASE trade code AST048.006
Registration number of IRBIS 6/48AST
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 June 26, 03
Maturity date (planned / actual) June 24, 07 / June 25, 07
Circulation term 1460 days (4 years)
Type of coupon semi-annual
Coupon rate (interest rate) fixed, is the subject of haggling
Dates of coupon payments (planned / actual) 1 Dec 24, 03 / Dec 24, 03
2 June 24, 04 / June 26, 04
3 Dec 23, 04 / Dec 25, 04
4 June 24, 05 / June 25, 05
5 Dec 23, 05 / Dec 24, 05
6 June 24, 06 / June 26, 06
7 Dec 23, 06 / Dec 25, 06
8 June 24, 07 / June 25, 07
Register fixation term (coupon, maturity) 2 / 3 working days
Announced issue volume, KZT 1,300,000,000.00
Settlement basis actual/365
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Date of specialized trades conducting June 25, 03
Time of bids submitting to the trades 11:30 - 13:00 of Almaty time
Payment date (till 4:00 p.m. ALT) June 25, 03 (Т+0)
Floatation volume, KZT 1,300,000,000.00
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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).
Interest rate charging on bonds starts since the date, which follows the day of
money transfer by the financial agent for the bonds purchased by buyers at
primary floatation to the issuer's account (June 26, 03), 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 introduced in KASE 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/).
Yet KASE has not received information from the National Bank of Kazakhstan
and from the issuer's financial consultant about permission to buy these bonds
at the expense of pension assets of accumulative pension funds.
[2003-06-23]