On January 26 Kazakhstan Mortgage Company JSC offered on KASE 150 m. of its KZPC2Y05B145 (KZIKb10) issue bonds at 5.69% APR

/KASE, January 26, 06/ - On January 26 of 2005 specialized trades on offering of KZPC2Y05B145 issue mortgage bonds of Kazakhstan Mortgage Company JSC (Almaty) (KASE's official "A" listing category, KZIKb10, KZT1, KZT5.0 bn.; March 1, 05 - March 1, 10, fixed semi-annual coupon, 30/360) were held in Kazakhstan stock exchange's (KASE) trade system. This is the second issue made within the company's first bond program, registered by Kazakhstan Agency for financial market and financial organizations regulation and supervision on April 8 of 2004 for a total of KZT20.0 bn., and the company's tenth bond issue, which has passed listing procedure on KASE. The issuer offered to market participants 150.0 m. bonds, that is 3% from the registered issue volume. Subject of trades was fixed coupon rate on the bonds, expressed as percentage per annum with the accuracy of two decimal figures, which was introduced by participants as the price. Applications for participation in the offering were submitted by open method from 11:30 to 13:00 of Almaty time (ALT). Only limited bids were accepted to the trades. Bids satisfaction method was at cut off price. 4 KASE members took part in the trades, who submitted 7 bids. By the moment of bids submitting period expiration 5 orders for purchasing 754 m. bonds were left in KASE's trade system. Thus, total demand at the trades exceeded offer 5.0 times. In total volume of demand 39.8% (by the number of bonds) were controlled by bids of Kazakhstan pension market subjects, 19.9% - by bids of Kazakhstan banks, 39.8% - by their clients' bids and 0.5% - by bids of broker-dealer companies' clients. Coupon rate in submitted active bids varied from 5.69% to 7.00% APR. Weighted average (through bid volume) rate on submitted bids totaled 5.95% APR. The issuer used interest rate totaling 5.69% APR as the cut-off price. By the results of trades the issuer satisfied in full volume two bids for purchasing 150 m. bonds. The bids were satisfied at clean price of 99.9939% from bond's face value, that corresponded to bonds' yield to maturity for a buyer at the rate of 5.69% APR on semi-annual basis. Amount of borrowing totaled KZT153,452,219.29. According to results of offering 97.3% of bonds are to be purchased by country's pension market subjects at the expense of pension assets of accumulative pension funds and 2.7% - by broker-dealer companies' clients. We remind, that buyers must transfer money for purchased bonds to KASE's correspondent account before 13:00 ALT on January 27 of 2006 (T+1). [2006-01-26]