/IRBIS, December 26, 02/ - Following is the characteristics of the second
issue bonds of BTA Mortgage OJSC (Almaty) published in connection with
their admittance into official list of securities of Kazakhstan Stock Exchange
(KASE) under category "B".
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Type of securities: Mortgage bonds with floating rate
Debt type: secured
Issue and servicing currency: Kazakhstani tenge (KZT)
National identification number: KZ2CKY07A867
Issue number in state register: А86
Register maintenance: Register Center LLP(Almaty)
Date of issue registration: September 29, 03
Par value of a bond: KZT10,000.00
Issue volume in issue currency: 500,000,000
Issue volume in securities: 50,000
Date of circulation start (issue date): December 26, 03
Circulation term: 7 years
Floatation term: During whole circulation period
Maturity date: December 26, 10
Interest rate 10.0%APR during the
first half of the year,
afterwards, reviewed by the
issuer once half of the
year
Interest payment dates March 26, June 26, September 26,
December 26
of each year
Time base in all calculations 30/360, European method
Register fixation date for interest payment: March 25, June 25,
September 25, December 25
of each year
Register fixation date at maturity: December 25, 10
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Date of admittance in trade lists of KASE: December 26, 03
Trade code of KASE: BTAIb1
Date of first trades at secondary market: will be determined later
Accuracy of price change at quoting: 4 decimal figures
Financial consultant: TuranAlem Securities JSC
(Almaty)
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Credit ratings of issuer: absent as of December 26, 03
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THE REPRESENTATIVE OF BONDHOLDERS
The representative of bondholders that defends the interests of bondholders
and carries out his authorities in compliance with the legislation of the
Republic of Kazakhstan on the basis of agreement on rendering services
signed by the issuer, as well as in accordance with the prospectus of bonds
issue will be Bank CenterCredit OJSC (hereinafter, issuer). The
representative is not an affiliated party with the Issuer and cariies his
responsibilities exclusively in interests of its bondholders. The issuer has a
right to replace the Representative and payment agent, which is Bank
CenterCredit OJSC.
MEANS OF SECURING THE EXECUTION OF REPSONSIBILITIES ON BONDS
Bonds of the Issuer are secured by pool of mortgage certificate. Loan
agreement with following registration of the collateral is concluded between
the Issuer and the Representative. Bondholders realize their rights through
Representative.
The Issuer is obliged to support the value of pledged mortgaged certificates
at level not less than 125% of total face value of circulating bonds. For
maintaining the value of collateral at the mentioned level, the Issuer adds
new mortgage certificates on mortgage loans given. The validy period of
mortgage certificates, which are subject of collateral, must exceed the term
to maturity of bonds by not less than 6 months 3 months before bonds maturity.
Bond redemption will be made at face value in tenge along with last interest
payment either in form of cash, or by transfer of funds into accounts of
bondholders. Face value of bonds and amount of the last coupon will be paid
to those persons, who are registered as of beginning of a last day of a
period, for which payments are accumulated.
INTEREST PAYMENT AND BONDS REPAYMENT
Interest payment on bonds will be made quarterly in tenge based on 360
days in year, 30 days in month convention upon expiration of three months
from the day of the last bond interest payment within whole circulation
period. First interest payment on bonds will be made upon expuration of
three months from circulation start date. Only persons who are included in
the bondholders register as of the last day of the period for which payment is
accumulated are eligible for receiving interest payments.
The Issuer has a right to change the coupon rate on bonds once a hlf of the
year. In case of such coupon rate change, the Issuer must announce the
coupon for the next half of the year of their circulation by publishing an
article in Kazakhstanskya Pravda newspaper 30 calendar days in advance.
In case of disagreement with the value of a stated interest rate the
bondholder has a right to submit a written notification to the Issuer about
such disagreement within ten calendar days from the date when
announcement on changing coupon rate was published. On the date of the
next coupon payment the Issuer calls its bonds back at the face value from
the persons who submitted their notifications about disagreement on time.
Along with repayment of principal the Issuer pays the coupon at the rate
effective prior to bonds calling. Bonds called will be resold afterwards.
THE ORDER AND TERMS OF BONDS REPAYMENT
Bonds repayment will be carried out at face value in tenge along with last
coupon payment by transferring money at accounts of bondholders, who are
included in the bondholders list as of the last day of a period for which
payment is accumulated. Bonds principal and coupon are repaid within 10
working days following after defining of persons, who have rights to receive
bonds principal and interest payment at maturity.
PURPOSES OF BORROWING
Proceeds from borrowing will be used by the Issuer in order to refinance its
short term loans, which were obtained for mortgage financing.
More detailed information about securities, including conclusion of the Listing
exchange committee will be published on pages of official web site of the
exchange at
http://www.kase.kz/emitters/btai.asp in the nearest term.
[2003-12-26]