/KASE, June 26, 03/ - Kazakhstan stock exchange (KASE) informs that on
June 27 of 2003 in KASE's trade system there will be held specialized trades
on primary additional floatation of coupon indexed bonds of domestic executive
body of Astana city of the sixth issue.
The securities' issuer is domestic 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 were admitted for circulation at the stock exchange by the decision
of KASE's Council dated June 20 of 2003, which took effect since June 24.
During primary floatation of bonds, which was held at KASE on June 25, the
issuer floated at the yield 8.50% APR 9,550,000 bonds to the amount of
KZT955,000,000.00 that was 73.5% of the planned issue volume.
Below are the issue's parameters, which have been announced by the issuer
and his financial consultants, and also main parameters of additional
floatation.
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Type of security inscribed coupon bond indexed on
changing of the rate of KZT to USD
Ordinal number of the issue 6
NIN KZZ4KY040062
KASE trade code AST048.006
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 (1st day of
accumulated interest charging)
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) 8.50% APR
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 at coupon payment 2 working days
Register fixation term at maturity 3 working days
Announced issue volume, KZT 1,300,000,000.00
Settlement basis actual/365
Rate on circulation starting date (USD/KZT) 148.45
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Date of specialized trades conducting June 27, 03
Time of bids submitting to the trades 11:30 - 12:00 of Almaty time
Payment date (till 4:00 p.m. ALT) June 27, 03 (Т+0)
Volume of additional floatation, KZT 345,000,000.00
Accumulated interest settlements date 0.046575% of indexed face value
Rate on additional floatation date (USD/KZT) 148.31
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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=148.45).
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 prices, which are shown in bids, in presence of fixed
coupon interest rate. Subject of haggling is bonds' clean price, which is
introduced in KASE trade system without accumulated interest in percentage
towards indexed face value with accuracy of four decimal figures. Number of
bonds in bid should be equal to total indexed face value of securities in
tenge, divisible by indexed face value of one bond.
Satisfying of bids for bonds purchasing is made by the issuer by the results of
trades after conducting of cutting-off procedure by a step of one hundredth of
the price. Bids, prices in which are less than cutting-off price, are cut off.
All bids, which are submitted at the price that are equal or more than
cutting-off price, are satisfied at the stated in the bid price. The issuer may
satisfy all or a part of bids, prices in which are equal to cutting-off price.
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.
[2003-06-26]