/KASE, April 29, 05/ - Kazakhstan stock exchange (KASE) notifies that on April
29 of 2005 specialized trades on floatation of government long-term savings
treasury instruments of the Ministry of finance of Kazakhstan (MEUJKAM)
of the first issue were held. Below are main parameters of the issue, terms and
results of floatation (Almaty time).
PARAMETERS OF ISSUE:
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Type of security: MEUJKAM -180
National identification number: KZKAKY150019
Trade code of KASE: MUJ180_0001
Face value, KZT: 1,000.00
Time basis: 30/360
Floatation date: Apr 29, 2005
Circulation start date: Apr 29, 2005
Last circulation day: Apr 28, 2020
Maturity date: Apr 29, 2020
Circaultion term: 10 years
Periodicity of coupon payment: 1 time a year*
Schedule of coupon payments: 1 May 5, 2006
2 May 7, 2007
3 May 7, 2008
4 May 7, 2009
5 May 7, 2010
6 May 6, 2011
7 May 7, 2012
8 May 7, 2013
9 May 7, 2014
10 May 7, 2015
11 May 6, 2016
12 May 5, 2017
13 May 7, 2018
14 May 7, 2019
15 May 7, 2020
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* on the fifth working
day of the month in every 12 full calendar months of circulation
FLOATATION TERMS:
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Announced volume, KZT m.: 14,000.0
Floatation price, KZT per bond: 1,000
Subject of trade: fixed coupon rate
Applications submitting method: closed
Applications acceptance time: 09:00 - 11:00
Applications confirmation period: 09:00 - 11:30 (Т+0)
Cutting off: until 15:00 (Т+0)
Bids satisfying method: at cut-off price
Stake of market bids satisfaction, %: 10
Payment date: April 29, 05
Payment time: until 15:00 (Т+0)
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DEMAND PARAMETERS:
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Number of participants - primary dealers: 9
Number of submitted bids (total / confirmed): 103 / 69
including limited: 93 / 59
including market bids: 10 / 10
Volume of confirmed bids, KZT m.: 59,965.0
including limited: 45,340.0
including market bids: 14,625.0
Demand to offer, %: 428.3
including limited to limit, %: 359.8%
including market to limit, %: 1,044.6%
Coupon rate on confirmed bids, % APR:
minimum: -0,64
maximum: +0,30
weighted average: +0,0361
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FLOATATION RESULTS:
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Volume of satisfied bids, KZT m.: 14,000.0
Fixed coupon rate, % APR: 0.00
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According to the data of Central Securities Depository CJSC (Almaty) all deals
on MEUJKAM - 180 floatation of the first issue by the time of settlements end
were executed.
KASE for the first time during GS flotation allowed participants to submit bids
with negative coupon rate. Judging on demand parameters investors took
adavatage of such an opportunity in full.
MEUJKAM are government bonds, which are floated among Kazakhstan
accumulative pension funds. Within the half of circulation term MEUJKAM may
circulate only among this category of investors. Afterwards they are freely
circulating on the market.
Indexation of money invested into MEUJKAM is made by calculating the indexed
coupon received by adding the fixed coupon, which is determined during
floatation, to inflation rate for the past coupon period.
Current value of the inflation rate for the past full 12 months, judging from
CPI indices published by the Agency of the Republic of Kazakhstan on
statistics, totaled 107.4371. This means that forecast yield to maturity for
investor equals 7.44% at the moment if the given coupon rate is effective for
the whole period of securities circulation.
Detailed information about MEUJKAM is given in Rules of issue, floatation,
servicing and maturity of government treasury instruments of Kazakhstan
(
http://www.kase.kz/mix/newgko.pdf), which were approved by the resolution of
Kazakhstan Government dated September 8 of 2004 #941 and took effect since
January 1 of 2005.
Floated MEUJKAM are automatically admitted to circulation on KASE's
secondary market under the symbol given in the table. Bonds must be quoted in
KASE's trade system in "dirty" prices.
[2005-04-29]