/IRBIS, Sergey Yakovlev, April 6, 06/ - Following is the characteristics
of KZ2CKY05B950 issue bonds of Transstroymost JSC (Kapshagai, Almaty obl.),
which is given in accordance with their inclusion in Kazakhstan stock
exchange's (KASE) official "A" listing category.
Data is given in accordance with conclusion of KASE's Listing commission
and Specification of the bond issue.
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Type of securities: bonds with floating coupon rate
Debt type: unsecured
Issue and servicing currency: Kazakhstan tenge (KZT)
National identification number KZ2CKY05B950
Issue number in state register: В95
Bondholders' register maintained by: Registration System of Securities JSC
(Almaty)
Financial consultant and underwriter Almaty Investment Management JSC
of the issue: (Almaty)
Issue registration date: February 24, 06
Bond's face value: KZT100
Issue volume in issue currency: 5,000,000,000
Issue volume in securities: 50,000,000
Circulation start date: April 6, 06
Circulation term: 5 years
Offering term: during the whole circulation period
Register fixation date at maturity: April 5, 11
Maturity date: April 6, 11
Maturity term: 10 business days following after
register fixation day
Coupon rate: 10.0% APR for the first year of
circulation, afterwards - floating,
depending on the inflation rate in
Kazakhstan
Register fixation dates for coupon
payment: October 5 and April 5 annuallyо
Coupons payment start dates: October 6 and April 6 annually
Term of coupon payments: within 10 business days following
after register fixation date
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Times basis at all settlements: 30/360, European method
Date of admittance in trade lists
of KASE: April 6, 06
Symbol on KASE: TSSMb1
Date of first trades: will be determined later
Quoting system on KASE: in net prices, % from the face value
Accuracy of price changing in quoting: 4 decimal figures
Market-maker on KASE: Almaty Investment Management JSC
(Almaty)
Minimal volume of compulsory
quotation: 20,600 bonds
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Credit ratings of the issue: absent as of April 6, 06
Issuer's credit ratings: absent as of April 6, 06
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The interest rate for the first year of circulation is 10.0% APR. Starting
from the second circulation year the rate is floating, depends on inflation
rate and is determined every six months by the formula:
r = i + m, where
r - the coupon rate, i - inflation rate, calculated as change of consumer
price index (the index value as percentage minus 100%) for last 12 months,
published by Kazakhstan Statistics Agency, for the month preceding to two
calendar months before coupon period start date; m - the fixed margin at
the rate of 2.5% APR.
The upper limit of the rate is 12.0% APR, the lower - 2.5% APR.
In compliance with Specification of the bond issue the issuer has the right
to announce repurchase of the whole issue or a part of it, but not earlier
than in the beginning of bonds second circulation year. Prescheduled
repurchase of bonds is made at the face value taking into account accumulated
interest. Detailed terms of bonds repurchase are available at
http://www.kase.kz/emitters/scan/tssm/tssmf9b1_2006.pdf
Investment risk. As of January 1 of 2005 the Company's equity capital
(KZT1.3 bn.) was formed by 94.7% due to additional unpaid capital, which
had been received as a result of revaluation of its fixed assets. The
Company's bond issue volume is kZT5.0 bn. while net income of year 2004 -
KZT107.0 m. In accordance with the mentioned above, risk of default on the
Company's bonds can be considered as high", - conclusion of the Listing
commission says.
Detailed information about the securities and their issuer is available on
KASE's web-site at
http://www.kase.kz/emitters/tssm.asp
[2006-04-06]