Development Bank of Kazakhstan JSC explains question about assigning of agent status to its bonds

/IRBIS, October 15, 03/ - As was informed on Tuesday, Development Bank of Kazakhstan JSC (Astana) informed Kazakhstan stock exchange (KASE) about the fact that all shares issued by the bank since July 25 of 2003, i.e. since National Bank of Kazakhstan assigned to Development Bank of Kazakhstan JSC status of financial agency, were assigned status of agent bonds. In the additional explanatory message the bank accentuates attention on the fact that in accordance with p.1-1 of the article 13 of Kazakhstan Law "About Development Bank of Kazakhstan" bonds, which the bank issued before July 25 of 2003, i.e. before the date the issuer was assigned the status of financial agent, also obtain status of agent bonds. Today following bonds issued by Development Bank of Kazakhstan JSC apply to such bonds: - domestic liabilities of the bank of the first issue (KZ2CKY05A473; KASE's official "А" listing category, BRKZb1; KZT1,000, KZT4,500 m.; February 15, 02 - February 15, 07; semi-annual coupon 8.5% APR); - euronotes of the bank of the first tranche, which were issued within the framework of the program EMTN (XS0155792186; KASE's official "А" listing category, BRKZe1; $100.0 m.; October 10, 02 - October 10, 07, semi-annual coupon 7.125% APR). In compliance with the tax legislation of the Republic of Kazakhstan, revenues from operations with agent bonds are not subjected to income tax at the source of the payment. This fact significantly increases attractiveness of agent bonds of Development Bank of Kazakhstan JSC for their potential holders. [2003-10-15]