/KASE, July 21, 03/ - Kazakhstan stock exchange (KASE) informs that on July
24 of 2003 in KASE's trade system there will be held specialized trades on
primary additional floatation of municipal bonds of Atyrau oblast of the fourth
issue.
The securities' issuer is domestic executive body (akimat) of Atyrau oblast.
The issuer's financial consultant is TuranAlem Securities JSC (Almaty).
Juridical consultant of the issuer is White & Case LLP (Almaty). Register on
bonds is maintained by Central depository of securities CJSC (Almaty). Status
of bonds' market-maker at KASE has been given to TuranAlem Securities JSC.
At present the issuer has long-term credit rating "Ba2" on borrowings in
domestic and national currencies from Moody's Investors Service.
The bonds were admitted for circulation at KASE by the decision of KASE's
Council dated May 8 of 2003.
During primary floatation of bonds, which was held at KASE on May 14, the
issuer floated 23,530,000 bonds at the yield of 8.50% APR to the amount of
KZT2,353,000,000.00 that was 69.2% of the planned issue volume.
At the specialized trades on bonds' primary additional floatation, which were
held at KASE on May 28, the issuer floated 1,040,000 bonds at the yield of
8.50% APR to the amount of KZT1,040,000,000.00 that was 30.6% of the
planned issue volume. Total volume of bonds, which were offered at the
specialized trades on May 14 and 28, equaled to KZT3,393,000,000.00 at the
face value or 99.8% 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 4
NIN KZЕ4KY050046
KASE trade code ART060.004
Issue currency KZ tenge
Servicing currency KZ tenge
Type of indexation face value on changing of the rate
of KZT to USD of the National Bank
of Kazakhstan
Par value KZT100
Circulation starting date May 16, 03 (accumulated interest
charging)
Maturity date (planned / actual) May 13, 08
Circulation term 1,825 days (5 years)
Type of coupon semi-annual
Coupon rate (interest rate) 8.50% APR
Dates of coupon payments (planned / actual) 1 Nov 13, 03 / Nov 13, 03
2 May 14, 04 / May 14, 04
3 Nov 12, 04 / Nov 12, 04
4 May 14, 05 / May 16, 05
5 Nov 12, 05 / Nov 14, 05
6 May 14, 06 / May 15, 06
7 Nov 12, 06 / Nov 13, 06
8 May 14, 07 / May 14, 07
9 Nov 12, 07 / Nov 12, 07
10 May 13, 08 / May 13, 08
Register fixation term at coupon payment 2 working days
Register fixation term at maturity 3 working days
Announced issue volume, KZT 3,400,000,000.00
Settlement basis actual/365
Rate on circulation starting date (USD/KZT) 151.40
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Date of specialized trades conducting July 14, 03
Time of bids submitting to the trades 10:00 a.m. - 1:00 p.m. of Almaty
time
Payment date (till 4:00 p.m. ALT) 25.07.03 (Т+1)
Volume of additional floatation, KZT 7,000,000.00
Accumulated interest settlements date 1.6534% of the face value
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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=151.40).
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 (May 16, 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/).
[2003-07-21]