Kazakhstan Mortgage Company CJSC has floated additionally 643.7 m. bonds of the 3rd issue at the specialized trades at forecasted 8.50% APR

/KASE, December 25, 03/ - Today specialized trades on primary additional floatation of indexed on inflation level mortgage bonds of Kazakhstan Mortgage Company CJSC (Almaty) of the third issue (KZ2CKY10A986, KASE's official "А" listing category, KZIKb3; KZT1, KZT5.0 bn.; December 1, 03 - April 1, 14, semi- annual coupon with floating rate, for the first half-year - 8.3% APR, 30/360) were held in Kazakhstan stock exchange's (KASE) trade system. The issuer offered to market's participants 1,500.0 m. bonds that was 30% of the registered issue volume. Trades were held from 11.30 a.m. to 1.00 p.m. of Almaty time on quotations in dirty prices with satisfaction of bids at cut-off price and using settlements scheme Т+1. Stake of market bids satisfaction was 70%. A total of 4 members of KASE took part in the trades, they submitted 8 limited bids on behalf of themselves and their clients. By the moment when time for bids submission elapsed, 7 orders for purchasing 643,700,000 bonds for a total amount of KZT641,561,987.50 remained in the trade system. Thus, total demand did not exceed 43.0% of announced volume of additional floatation. Bonds' prices in submitted bids varied from 99.2328 (forecasted 8.5000%APR yield to maturity for purchaser) to 100.5912%(8.2990%APR). Weighted average demand price was 99.6719, what corresponded to 8.4350% APR. Indexes were weighed according to the amount in bids in tenge. In total volume of demand 14.0% were controlled by bids of pension market's subjects, 67.9% - by commercial banks, 18.1% - by clients of broker-dealer companies. According to results of the trade the issuer satisfied bids mentioned above, having thereby floated 643,700,000 bonds. All bids were satisfied at dirty price 99.2328% (which has been determined as cut-off price), that corresponds to forecasted yield to maturity for purchaser equaling to 8.5000% APR on semi- annual basis. After conducting of six specialized stock exchange's trades (on December 4, 10, 12, 18, 19 and 25) Kazakhstan Mortgage Company CJSC floated among investors 2,365,000,000 bonds of the third issue (47.3% of the registered volume) at the forecasted 7.80 - 8.50% APR. Sum of the borrowing was KZT2,370,664,559.04 (about 16.5 m. dollars at the current stock exchange's rate). Weighted average forecasted yield of securities to maturity for purchaser on all conducted floatations is 8.36% APR. [2003-12-25]