Issue, circulation and maturity terms of first issue bonds of MINING- SMELTING CONCERN KAZAKHALTYN (Kazakhstan)

02.06.04 21:45
/IRBIS, June 2, 04/ - Following is the characteristics of bonds of first issue of MINING-SMELTING CONCERN KAZAKHALTYN OJSC (Stepnogorsk) published in connection with their admittance into official list of securities of Kazakhstan Stock Exchange (KASE) under category "A". ---------------------------------------------------------------------------- Type of securities: indexed bonds with floating coupon Debt type: unsecured, insubordinate Issue and servicing currency: Kazakhstani tenge (KZT) Indexation characteristics: of face value indexed on change in tenge exchange rate to dollar (investor's revenue is protected against tenge appreciation); coupon is tied to inflation and tenge devaluation National identification number: KZ2CKY05B133 Issue number in state register: B13 Register maintenance: REESTR LLP (Almaty) Date of issue registration: Apr,6, 04 Par value in issue currency: KZT1 Issue volume in issue currency: 2,800,000,000 Issue volume in securities: 2,800,000,000 Date of circulation start (issue date): Jun,2, 04 Circulation term: 5 years Floatation term: within 2 years after circulation start date Register fixation date at maturity June 1, 09 Redemption begins on June 2, 09 Redemption is completed Within 9 working days after given redemption start date Coupon rate (interest rate): 9.0% APR for the first year of circulation inflation-adjusted Register fixation dates for December 1 and June 1 each coupon payment year Start date of coupon payment December 2 and June 2 each (interest rate): year Coupon is paid within 9 working days after given start dates of coupon payments Time basis at all settlements: 30/360, European method Financial consultant Financial Company JSC (Almaty) --------------------------------------- ----------------------------------- Date of admittance in trade lists of KASE: June 2, 04 Trade code of KASE: KZALb1 Date of first trades: to be determined later Accuracy of price change at quoting: four decimal figures --------------------------------------- ----------------------------------- Market-makers at KASE: Financial Company JSC (Almaty) Minimal volume of obligatory quotation: 1 800 000 bonds --------------------------------------- ----------------------------------- Credit ratings of issue: absent as of June 2, 04 Credit ratings of issuer: absent as of June 2, 04 ---------------------------------------------------------------------------- Indexed face value (Ni) of bonds is calculated as multiplication of face value (N) and coefficient of devaluation/revaluation rate speed (Kd) according to following formula: Kd = Pt / Pt0, where Pt is the weighted average US dollar rate to tenge as of morning (main) session at KASE at actual payment date; Pt0 is weighted average exchange rate of dollar to tenge as of morning (main) session at KASE at circulation start date. If Pt is less than Pt0 the coefficient Kd=1. Interest on bonds is paid twice a year based on following formula: Y = (Ni * r * 180) / 360, where r is the interest rate. Coupon on bonds for the first 6 months of its circulation equals 9%APR of indexed face value. Beginning from seventh month of circulation the rate is revised every six months and calculated as r = i + m, where i - inflation index as per Statistics Agency of Kazakhstan for the last 12 months (index value expressed in percentage minus 100) 2 months prior to the date when next coupon is paid; m- fixed margin of two percentage points of indexed face value. The issuer reserves the right to revise fixed margin rate twice during circulation period of security. The value of fixed margin must not be changed by more than one percentage point at once. The issuer must notify holders about change of margin (if it plans to do so) through publishing an article in Kazakhstanskaya Pravda and Yegemen Kazakhstan newspapers within 30 calendar days before the margin is changed as well as by sending a written announcement to KASE. Upper limit for coupon is 14%APR, lower limit is 13.0%APR. Coupon is paid in tenge based on convention "360 days in a year / 30 days in a month". Only persons, who are included in the bondholders' list (register) as of the beginning of the last day of a period for which coupon is accrued, are eligible for receiving such payments. Coupon and indexed principal are paid in tenge within 10 working days after eligible shareholders are identified. At the end, bonds are redeemed on indexed face value along with last coupon by transferring amounts at current accounts of bondholders who are included in the bondholders' list (register) as of the beginning of the last day of a period for which coupon is accrued, are eligible for receiving such payments. Proceeds obtained from bonds issue will be used in further expansion of issuer's activities. More detailed information about the issuer is published at KASE's web site (on securities data will be published soon) at [2004-06-02]