Results of the specialized trades on primary floatation of Astana city's municipal bonds of the 6th issue

/KASE, June 25, 03 / - On June 25, 2003 the specialized trades on primary floatation of inscribed coupon indexed bonds of local executive body of Astana city of the sixth issue were held in Kazakhstan stock exchange's (KASE) trade system. Only limited (competitive) bids were admitted to the trades. Bonds were offered by the issuer at face value. Subject of the trade was fixed coupon interest rate, which will be paid to bondholders twice a year. Following are issue parameters and full floatation results. ISSUE PARAMETERS ------------------------------------------ ------------------------------------ Type of security inscribed coupon mid-term indexed bond NIN KZZ4KY040062 KASE trade code AST048.006 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) June 26, 03 Maturity date (planned/actual) June 24, 07 / June 25, 07 Days in circulation 1460 (4 years) Type of coupon semi-annual Coupon payments dates (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, repayment) 2 / 3 working days Announced issue volume, KZT 1,300,000,000.00 Settlement basis actual/365 ------------------------------------------ ------------------------------------ PARAMETERS OF THE SPECIALIZED TRADES ------------------------------------------------------------------------------- Date of specialized trades conducting June 25, 03 Time for applications presenting 11:30 - 13:00 ALT Payment date (till 4:00 PM ALT) June 25, 03 (Т+0) Offered volume of floatation, KZT 1,300,000,000.00 Rate of KZT/USD on payment date 148.66 ------------------------------------------ ------------------------------------ PARAMETERS OF DEMAND ------------------------------------------ ------------------------------------ Number of participants - KASE members 5 Number of submitted bids 11 Volume of submitted bids, bonds 13,050,000.00 Volume of submitted bids, KZT 1,305,000,000.00 Bid to ask, % 100.4% Minimal rate on bid, %APR 8.0000 Maximal rate on bid, %APR 10.5000 Weighted average rate on bid, %APR 8.6330 ------------------------------------------ ------------------------------------ FLOATATION RESULTS ------------------------------------------ ------------------------------------ Volume of satisfied bids, bonds 9,550,000 Volume of satisfied bids, KZT 955,000,000.00 Set coupon rate, %APR 8.5000 ------------------------------------------------------------------------------- 76.6% of total volume of bid fell to the stake of banks, 23.4 - to the stake of their clients. Investors of other categories did not take part in the floatation. After conducting by the issuer of cutting-off procedure that determined the size of coupon interest rate at the rate of 8.50%APR seven bids were satisfied. At this 68.1% of the floated bonds were purchased by commercial banks, 31.9% - by their clients. By the results of the specialized trades the issuer floated 73.5% of the planned volume. [2003-06-25]