/IRBIS, Sergey Yakovlev, May 17, 04/ - Following is the characteristics of the
first issue bonds of Food contract corporation (Astana) published in
connection with their admittance in official list of securities of Kazakhstan
Stock Exchange (KASE) under category "A". Data is given in accordance
with conclusion of KASE's Listing commission and documents presented to
KASE by financial consultant of bonds issuer.
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Type of securities: indexed bonds
Debt type: Unsecured
Issue and servicing currency: Kazakhstani tenge (KZT)
National identification number: KZ2CKY05B091
Issue number in state register: B09
Register maintenance: Register system of securities CJSC
(Almaty)
Date of issue registration: February 6, 04
Par value of a bond: KZT10,000
Issue volume in issue currency: 3,000,000,000
Issue volume in securities: 300,000
Date of circulation start (issue date): May 17, 04
Circulation term: 5 years
Floatation term: within whole term of circulation
Maturity date: May 15, 09, callable
Coupon rate 8% APR on par value
Interest payment dates May 17 of each year
Time base in all calculations actual/actual
Register fixation date for interest payment: May 16 annually
Register fixation date at maturity: May 16, 09
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Date of admittance in trade lists of KASE: May 17, 04
Trade code of KASE: PRKRb1
Date of first trades at secondary market: to be determined later
System of quotation at KASE In сlean prices in pct of indexed
par value
Accuracy of price change at quoting: 4 decimals
Market-maker at KASE Nauryz Securities Kazakhstan LLP
(Almaty)
Financial consultant: Nauryz Securities Kazakhstan LLP
(Almaty)
Minimal mandatory quotation 180 bonds
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Credit ratings of issue: N/a as of May 17, 04
Credit ratings of issuer: N/a as of May 17, 04
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Interest on bonds is paid once a year based on time convention "actual
number of days in year / actual number of days in a months".
Only persons, who are included in the bondholders' list (register) on the last
day prior to payment date, are eligible for receiving such payments. If
interest payment or principal repayment dates fall on week end or holiday,
payment to bondholders will be made the date following after that holiday or
weekend. This being case, bondholder has no rights to request a compensation
for such delay in payment. Coupon as of payment date is calculated as
multiplication of par value, coupon rate and number of days elapsed since
last coupon payment divided by actual number of days in the year. Interest
on bonds will be paid by transferring tenge amounts to current accounts of
bondholders given by registrar. If bondholder is a non-resident of the
Republic of Kazakhstan, interest on bonds is payable in US dollars at official
exchange rate set by the National bank as of payment date.
Repayment of principal amount of bonds will be made by transferring
money at current accounts of bondholders, who are included in bondholders'
list on the last day prior to bonds repayment date.
In case the issuer underpays either coupon or/and principal amount, then at
maturity the issuer must repay all amounts delayed plus a fine for each day
delay calculated on the basis of prime rate set by the National bank of
Kazakhstan as of obligations fulfillment date. If upon thirty calendar days the
issuer fails to make all necessary and delayed payment, default on bonds is
declared. Under such circumstance, bondholders' claims will be satisfied in
compliance with the legislaton of the Republic of Kazakhstan.
Bonds are callable both on the issuer's and holders' requests. The issuer
may retire its bonds earlier only upon approval by the Board of Directors. The
Company must notify holders about early redemption of bonds 30 days prior
to officially declared date of advanced repayment in one of the local
newspapers in compliance with the Law of the Republic of Kazakhstan "On
join-stock companies".
A holder may claim advanced repayment by sending a written notification to
the issuer in case the issuer changes its primary activities, restructures,
files for bankruptcy or when bonds are delisted at KASE, change official
category.
Proceeds from bonds will be used to finance wheat purchase.
Comprehensive profile of the issuer and securities will be available soon at
official web site of KASE at:
http://www.kase.kz/emitters/prkr.asp
[2004-05-17]