/KASE, August 5, 03/ - Kazakhstan stock exchange (KASE) notifies that on
August 7 of 2003 there will be held specialized trades on primary floatation of
indexed on tenge devaluation level subordinate bonds of Nurbank OJSC
(Atyrau) of the second issue (KZ2CKY08A774; KASE's official "А" listing
category, NRBNb2; KZT4,000.0 m., KZT16,000, June 12, 03 - June 12, 11, semi-
annual coupon 9.0% APR; 30/360).
The issuer plans to offer during the trades 187,500 bonds that is equal to
KZT3.0 bn. at the face value or 75% of the registered issue volume.
According to issuer terms, face value of bonds is indexed on the coefficient of
tenge devaluation relative to US dollar (Kd), which is calculated as ratio of
the current weighted average rate of US dollar relative to tenge (Xt), which
was determined at KASE's morning session, to similar rate (Xo) on the date of
bonds circulation start (Kd = Xt/Xo, Хо=148.78). Bondholder is not protected by
bonds issue terms from tenge revaluation.
Data about the bonds and their issuer has been published in the KASE's web site
in the Internet in
http://www.kase.kz/emitters/nrbn.asp.
The specialized trades will be held in the KASE's trade system since 11:30 a.m.
till 1:00 p.m. of Almaty time. Bond, which will be purchased at the trades, are
to be paid for by purchasers before 4:00 p.m. of Almaty time on August 7 of
2003 (by the scheme T+0).
Only limited (competitive in GS market's terminology) bids arte admitted to the
trades. Market (non-competitive) bids are not examined by the issuer.
The "clean" price of bonds (without accumulated interest), which is expressed
as percentage to security's indexed face value with accuracy of four decimal
figures, is to be shown in bid as the price.
Total indexed face value of securities in Kazakhstan tenge, which is divisible
by one bond's indexed face value, is to be given in bid as the number of
financial instruments.
Volume of submitted bid is determined as the product of the number of financial
instruments and price taking into account accumulated interest, divided into
100%. Accumulated interest should be taken into account by participants on the
date of bonds payment.
Method of satisfying of bids for purchase - at the stated price. The issuer
will satisfy all bids, prices in which will be higher than cut-off price, and
also all or a part of bids, prices in which turn out to be equal to cut-off
price. In the latter case, bids, which will be submitted to KASE's trade system
earlier, will be given preference to. Step while determination of cut-off price
- one ten thousandth of the price.
Bids can be submitted only by KASE's members of "Р" category (the right to
participate in trades in corporate securities, which have been included into
the stock exchange's official list). Investors may submit bids with the help of
these juridical persons. Full list of KASE's members of "Р" category has been
published in the stock exchange's web-site at
http://www.kase.kz/kasemembers/.
The floated bonds may be purchased at the expense of Kazakhstan accumulative
pension funds' assets as included into KASE's official "А" listing category.
[2003-08-05]