/KASE, September 22, 03/ - Kazakhstan stock exchange (KASE) notifies that on
September 24 of 2003 there will be held specialized trades on primary
additional floatation of indexed on tenge devaluation level subordinated 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 12,500 bonds that is equal to
KZT200.0 mn. of face value or 5% 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. Bonds, which will be purchased at the trades,
are to be paid by purchasers before 4:00 p.m. of Almaty time on September 24 of
2003 (by the scheme T+0).
Only limited (competitive in GS market's terminology) bids arte admitted to the
trades. The issuer does not consider market (non-competitive) bids.
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 multiplication of the number of
financial instruments and price taking into account accumulated interest,
divided by 100%. Accumulated interest should be taken into account by
participants on the date of bonds payment (2.550000% of bond's indexed nominal
face value).
Method of satisfying bids for purchase - at the stated price. The issuer will
satisfy all bids, prices of 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. Step when determining cut-off price is 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/.
To-be-floated bonds may be purchased at the expense of Kazakhstan
accumulative pension funds' assets as included into KASE's official "А" listing
category.
[2003-09-22]