Food Contract Corporation JSC floated 1,000 bonds at 8.00% APR

/KASE, June 9, 04/ - Today, KASE held consecutive dedicated trades - additional public offering of bonds of Food Contract Corporation JSC (KZ2CKY05B091, official "A" listing of KASE, PRKRb1; KZT10,000, KZT3.0 bn; May 17, 04 - May 17, 09, semiannual coupon - 8.0%APR). Bonds were floated at net price (without accumulated interest) expressed in percent to face value with four decimal points quotation accuracy (T+) settlement term). This time the issuer offered 30,000 bonds or 10% of registered emission volume. Three KASE members participated in the trades. They submitted bids for 81,000 bonds for a total 792,476,807.67 tenge. Thus demand equaled 270.0% of announced offering volume. Net prices of bids varied from 96.1100% (9.50% APR) and 99.9652% (8.00% APR). Weighted average bid price equaled 99.9652% (8.00% APR) or 8.68% APR. Pension funds submitted the largest proportion of bids - 98.8%, clients of broker companies - 1.2%. By results of trades the issuer satisfied a single bid submitted by client of broker company for 1,000 bonds in amount of KZT10,046,930.96 at a price of 99.9652% or 8.00% yield. Results of trades confirmed uncompromising position of the issuer and its intention to float bonds only at 8.00% APR. [2004-06-09]