Escolar Documentos
Profissional Documentos
Cultura Documentos
WEEKLY UPDATE
KASE index
2100 Banks 2
1900
1700 State-owned bank to fill void in trade finance 2
1500
1300
HSBC Kazakhstan acquired retail business of RBS Kazakhstan 2
1100
Goldman Sachs sues BTA for non-payment 3
900
700
500 Capital markets 4
Jun-09 Aug- 09 Oct-09 Dec-09 Feb- 10 Apr-10 Jun- 10
Moody’s on KMG NC bond issue 4
KZT/USD
Oil 5
154,00
NC KazMunaiGas to upgrade its oil refineries 5
152,00
150,00
Kazakhstan to reinstate export tax on commodities 5
148,00
Global Markets 6
146,00
144,00 Bonds 8
Jun-09 Aug-09 Oct-09 Dec-09 Feb-10 Apr-10 Jun-10
International Bonds 8
Gold spot
1300
1200
1100
1000
900
800
700
Jun-09 Aug- 09 Oct-09 Dec-09 Feb- 10 Apr-10 Jun- 10
1
HALYK FINANCE
Weekly Update June 21, 2010
Banks
State-owned bank to fill void in trade finance
Eurasian Development Bank adopted a program of development of trade finance to facilitate trade and
development among the member-states, that is, Russia and Kazakhstan. The program includes direct
financing of export-import contracts by the bank as well as the support to letters of credit and
guarantees. The bank expects the program to activate cooperation with financial institutions of the
member-states and to offer “favorable conditions for the development of companies engaging in foreign
trade”.
Fig 1. Kazakh banks’ stock of letters of credit, USD bn
40
35
30
25
20
15
10
0
Jun-07
Jun-08
Jun-09
Jun-10
Apr-07
Aug-07
Oct-07
Dec-07
Feb-08
Apr-08
Aug-08
Oct-08
Dec-08
Feb-09
Apr-09
Aug-09
Oct-09
Dec-09
Feb-10
Apr-10
Sabit Khakimzhanov
2
HALYK FINANCE
Weekly Update June 21, 2010
Roman Assilbekov
3
HALYK FINANCE
Weekly Update June 21, 2010
Capital markets
Moody’s on KMG NC bond issue
On June 11, 2010, Moody's Investors Service assigned a provisional rating of (P) Baa2 to an upcoming
domestic bond issue of National Company KazMunayGas. The outlook on the rating is negative.
According to press-release, the bonds will be denominated in Tenge and will amount to KZT248.65 bn
(US$1.7 bn). The bonds will have a three-year maturity and will be indexed to USD/KZT exchange rate.
Coupon rate is expected to be 7% per annum. The proceeds from the issuance are expected to be used
by KMG to repay debt and for general purposes.
The placement will be by far the largest bond issuance in Kazakhstan’s domestic market. However,
according to Moody’s, the bonds issued by KMG will be purchased by Kazmunaigas E&P, its exploration
and production subsidiary. In effect, this makes it a loan from KMG EP to a parent.
No information has been provided to explain why KMG Group decided to follow a more expensive bond
structure over a loan agreement. Perhaps, this is due to necessity to preserve flexibility that bond
structure provides, because it allows to sell the bonds on open market if liquidity is required.
On June 14th, KMG issued a press-release indicating that Moody’s press-release on upcoming bond issue
had been premature and terms and conditions of the issue have not been finalized.
Roman Assilbekov
4
HALYK FINANCE
Weekly Update June 21, 2010
Oil
NC KazMunaiGas to upgrade its oil refineries
On June 16, Daniyar Tiessov, a Managing Director at National Company KazMunaiGas (‘NC KMG’), held a
press conference to update the public on the company’s progress in modernization of its oil refining
facilities. At the press event, the NC KMG official highlighted the following points:
- The company is currently reconstructing ELOU-AVT-3 petroleum refining units and delayed coking
units at its Atyrau oil refinery and is planning to build an aromatic hydrocarbons production facility
and an “oil deep processing complex.” Upon completion of these initiatives, the refinery will start
producing Euro-4 compliant oil products;
- Four years ahead of schedule, NC KMG has recently repaid the JPY-denominated $145 mln loan from
Japan Bank for International Cooperation. The repayment has been accelerated in advance of a
planned large new debt issuance to finance the reconstruction efforts at the refinery in Atyrau;
- The company is currently conducting feasibility studies of projects aimed at increasing capacities of
Shymkent and Pavlodar oil refineries and at upgrading their product lines to Euro-4 standards;
- By 2012, NC KMG plans to launch production of road bitumen at its Aktau Plastics Plant. The plant
will consume up to 1.0 mln tons of crude oil from Karazhanbas oil field a year and produce 0.4 mln
tons of road bitumen (grades BND 60/90 and BND 90/130) and polymer-modified bitumen;
- Without naming a buyer, Tiessov said that NC KMG is negotiating a sale of a 50% stake in Pavlodar
oil refinery with “a major Russian oil producer” to ensure a long-term supply of oil to the refinery.
(Note: Responding to a reporter’s question in Saint-Petersburg, Lukoil Vice-President Leonid Fedun
excluded his firm from the list of potential buyers saying Lukoil is not interested in the refinery.)
Timur Omoev
Timur Omoev
5
HALYK FINANCE
Weekly Update June 21, 2010
Global Markets
Interest Rates, %
Kazakhstan Russia Ukraine
NBK ref. rate 7,00 CBR ref. rate 7,75 NBU discount rate 9,50
Europe USA UK
ECB ref. rate Discount rate 0,75 Minimum lending rate 0,50
Korea 2,8 May 10 0,1 2,7 Korea USDKRW 1202,65 -3,5 -4,5 1199,43
6
HALYK FINANCE
Weekly Update June 21, 2010
Commodities, USD
1Y
Spot 1W % YTD% 1Y % Futures
Brent bbl 78,8 5,1 1,2 12,4 76,2
Copper mt 6 408,0 -0,7 -12,7 29,5 6 635,3
Lead mt 1 722,5 4,4 -28,3 4,4 1 692,8
Zinc mt 1 697,0 -0,7 -32,9 10,5 1 751,3
Nickel mt 19 520,0 0,2 5,8 30,8 20 230,0
Aluminium mt 1 914,0 0,0 -12,9 18,7 1 945,5
Uranium lb 40,4 0,6 -8,6 -13,1 n/a
Ferroalloy mt 2 998,3 0,0 32,0 97,1 n/a
Steel mt 412,5 -1,3 6,2 13,8 406,0
Gold t oz 1 256,8 2,5 14,4 34,7 1 258,3
Wheat mt 167,2 1,7 -7,1 -21,3 461,8
Corn mt 131,7 3,4 -10,5 -14,1 360,8
1 4 00
1 2 00
1 0 00
800
600
400
200
0
11.16.09
12.01.09
12.16.09
12.31.09
01.15.10
01.30.10
02.14.10
03.01.10
03.16.10
03.31.10
04.15.10
04.30.10
05.15.10
05.30.10
06.14.10
Source: Bloomberg Price source: SMA New York, except for KKB CBGN(Composite New York)
7
HALYK FINANCE
Weekly Update June 21, 2010
Bonds
International Bonds
Coupon Bid Ask Credit Rating,
Issue Issue Matur Dur,
Issuer Curr Fitch│Moody's│
size, mn date date years change change change
Type % Price YTM,% Price YTM,% S&P
1W bps 6M bps 1W bps
Alliance Bank 615 USD Fix 10,5 Mar-10 Mar-17 4,7 89,5 12,9 -48,7 N/A 92,5 12,1 -34,8 N.R.│N.R.│N.R.
ATF Bank 100 USD Var 10,0 Nov-06 N/A 4,8 94,8 9,5 -34,0 -232 99,8 9,0 -46,6 N.R.│B1│NR
ATF Bank 200 USD Fix 8,1 Oct-05 Oct-10 0,3 100,0 8,1 -75,1 -114 101,4 4,1 -71,9 BBB│Ba1│NR
ATF Bank 350 USD Fix 9,0 May-06 May-16 4,7 100,3 8,9 -29,5 -159 102,5 8,4 -47,6 BBB│Ba1│NR
ATF Bank 450 USD Fix 9,3 Feb-07 Feb-14 3,1 103,1 8,2 -50,8 N/A 105,1 7,6 -58,2 BBB│Ba1│NR
ATF Bank 200 USD Fix 9,3 Apr-05 Apr-12 1,7 101,9 8,1 -29,7 -191 103,6 7,1 -31,0 BBB│Ba1│NR
BTA Bank 400 USD Var 8,0 Mar-04 Mar-14 3,2 44,3 34,8 -68,4 -1 137 47,6 32,1 -105,0 C│C│D
BTA Bank 500 EUR Var 6,3 Sep-06 Sep-11 1,3 43,4 103,3 -688,4 -271 47,5 89,2 -712,5 C│C│N.R.
BTA Bank 350 USD Var 8,5 Feb-05 Feb-15 3,6 45,3 31,2 -71,9 -1 171 48,4 29,1 -108,2 C│C│D
BTA Bank 1000 USD Var 8,3 Jan-07 Jan-37 4,5 46,1 17,9 -102,0 -883 47,8 17,3 55,5 C│C│D
CenterСredit 500 USD Fix 8,6 Jan-07 Jan-14 3,1 97,8 9,3 -61,8 -155 98,9 9,0 -66,0 B│Ba3│N.R.
CenterСredit 300 USD Fix 8,0 Feb-06 Feb-11 0,6 99,6 8,7 -11,6 -244 100,6 7,0 -16,6 B│Ba3│N.R.
DBK 150 USD Fix 6,0 Mar-06 Mar-26 9,7 83,3 7,9 -6,3 -6 87,5 7,4 -21,0 BBB-│Baa3│BBB-
DBK 100 USD Fix 6,5 Jun-05 Jun-20 7,4 92,8 7,5 -19,0 19 97,3 6,9 -36,2 BBB-│Baa3│BBB-
DBK 100 USD Fix 7,4 Nov-03 Nov-13 3,0 103,5 6,2 -25,0 -64 107,8 4,9 -79,4 BBB-│Baa3│BBB-
Eurasian Bank 500 USD Fix 7,4 Sep-09 Sep-14 3,7 103,7 6,4 -42,1 -1 105,6 5,9 -70,6 BBB│A3│N.R.
Halyk Bank 700 USD Fix 7,3 May-07 May-17 5,4 92,8 8,7 -89,6 N/A 94,3 8,4 -82,4 B+│Ba2│B+
Halyk Bank 300 USD Fix 7,8 May-06 May-13 2,6 100,8 7,5 -66,2 N/A 102,1 6,9 -77,6 B+│Ba2│B+
Halyk Bank 500 USD Fix 9,3 Apr-08 Oct-13 2,9 103,8 7,9 -93,3 N/A 105,1 7,5 -105,0 B+│Ba2│B+
INTERGAS 600 USD Fix 6,4 May-07 May-17 5,6 98,5 6,6 -37,2 -79 100,3 6,3 -22,8 BB+│Baa2│BB-
INTERGAS 250 USD Fix 6,9 Nov-04 Nov-11 1,3 103,4 4,3 -143,0 -196 105,0 3,1 57,5 BB+│Baa2│BB-
KazAtomProm 500 USD Fix 6,3 May-10 May-15 4,3 100,8 6,1 -49,6 N/A 102,0 5,8 -56,3 BBB-│Baa3│N.R.
Kazkom 300 EUR Fix 5,1 Mar-06 Mar-11 0,7 96,9 9,5 62,9 N/A 99,5 5,7 -78,2 B-│Ba3│B
Kazkom 750 EUR Fix 6,9 Feb-07 Feb-17 5,4 89,3 9,1 -23,7 N/A 91,2 8,7 -31,0 B-│Ba3│B
Kazkom 500 USD Fix 7,5 Nov-06 Nov-16 5,1 88,8 9,9 -25,6 N/A 91,3 9,3 -41,8 B-│Ba3│B
Kazkom 350 GBP Fix 7,6 Feb-07 Feb-12 1,6 92,8 12,7 -57,0 N/A 94,3 11,6 -41,4 B-│Ba3│B
Kazkom 400 USD Fix 7,9 Apr-04 Apr-14 3,3 92,4 10,4 -63,5 N/A 94,3 9,7 -70,8 B-│Ba3│B
Kazkom 500 USD Fix 8,5 Apr-03 Apr-13 2,5 93,8 11,1 -92,4 N/A 95,4 10,4 -72,1 B-│Ba3│B
Kazkom 250 USD Var 8,5 Jun-07 Jun-17 1,8 78,0 12,6 -12,5 -170 86,0 10,6 -34,6 CC│N.R.│CCC+
Kazkom 500 USD Fix 8,0 Nov-05 Nov-15 4,4 91,7 10,0 -51,7 N/A 93,8 9,5 -48,2 B-│Ba3│B
Kazkom 200 USD Var 8,6 Jul-06 Jul-16 1,0 82,0 11,8 N/A -218 86,8 10,6 N/A CC│B1│CCC+
Kazkom 100 USD Var 9,2 Nov-05 N/A 4,1 N/A N/A N/A N/A N/A N/A N/A CC│Caa1│CCC
KazTemZhol 450 USD Fix 6,5 May-06 May-11 0,9 100,3 6,1 -105,0 -203 101,3 4,9 -84,2 BBB-│Baa3│BB+
KazTemZhol 350 USD Fix 7,0 May-06 May-16 4,9 97,3 7,6 -10,8 -90 98,3 7,4 10,7 BBB-│Baa3│BB+
KazakhGold 200 USD Fix 9,4 Nov-06 Nov-13 2,2 101,7 8,8 -28,4 -79 103,1 8,3 -19,7 WD│N.R.│N.R.
KMG 1400 USD Fix 8,4 Jul-08 Jul-13 2,6 108,1 5,4 -72,9 -71 108,9 5,2 -70,5 BBB-│Baa2│BB+
KMG 1600 USD Fix 9,1 Jul-08 Jul-18 5,8 115,6 6,6 -58,7 -80 117,3 6,3 -59,6 BBB-│Baa2│BB+
Tengizchev 1100 USD Fix 6,1 Nov-04 Nov-14 3,9 101,9 5,6 -37,4 -72 103,6 5,2 -32,0 BBB-│Baa3│N.R.
*As of 06/18/2010.
8
HALYK FINANCE
Weekly Update June 21, 2010
Domestic Bonds
Fixed coupon
Akm KurylysMat B1 5 000 9,0 0,1 97,25 12,5 09.08.09 N/A N/A N/A N/A
Alfa Bank B2 3 000 12,0 0,7 102,92 8,0 05.25.10 101,99 9,0 103,39 7,0
Astana Finance B9 9 000 8,0 10,9 10,00 80,1 11.20.09 N/A N/A N/A N/A
Astana Nedvizh B2 10 000 15,0 3,4 33,15 65,1 04.15.10 N/A N/A N/A N/A
ATF Bank B4 4 500 8,5 4,4 98,17 9,0 05.12.10 98,19 9,0 105,62 7,0
BankCenterCredit B12 5 000 9,0 0,5 101,05 7,0 06.10.10 100,50 8,0 101,52 6,0
BankCenterCredit B17 5 000 8,5 1,9 99,64 8,7 06.15.10 97,45 10,0 100,86 8,0
BankCenterCredit B19 6 000 11,0 8,0 99,98 11,0 07.30.08 99,99 11,0 111,25 9,0
BankCenterCredit B23 10 000 11,0 14,4 N/A N/A N/A 107,54 10,0 125,41 8,0
BTA Bank B5 20 000 7,0 5,5 30,54 36,0 01.10.10 N/A N/A N/A N/A
BTA Bank B7 125 000 7,0 26,0 23,33 30,0 03.05.10 N/A N/A N/A N/A
BTA Bank B9 100 000 11,0 8,0 100,02 11,0 09.11.09 N/A N/A N/A N/A
BTA Ipoteka B12 1 000 7,0 6,1 46,46 22,0 03.25.09 N/A N/A N/A N/A
BTA Ipoteka B13 1 000 7,0 6,5 39,48 25,0 03.19.09 N/A N/A N/A N/A
BurlynGazStroi B1 3 000 10,0 2,1 92,86 13,0 08.27.09 N/A N/A N/A N/A
CentAsian PE Co. B1 20 000 12,5 8,5 88,13 15,0 05.06.10 88,22 15,0 92,68 14,0
Central Asia Cement B1 2 700 9,0 1,1 94,77 14,0 06.09.10 94,88 14,0 96,87 12,0
Ekibastusz GRES-1 B1 10 000 12,0 4,5 101,54 11,6 02.05.10 103,49 11,0 110,96 9,0
EKOTON+ B1 1 000 10,0 1,3 93,01 14,7 01.20.10 N/A N/A N/A N/A
Eurasian Bank B6 5 000 11,0 5,2 99,67 11,1 01.13.10 99,96 11,0 108,14 9,0
Eurasian Bank B9 35 000 13,0 1,3 N/A N/A N/A 116,60 9,0 126,27 7,0
Eximbank B1 10 000 9,0 3,4 76,29 18,0 02.23.10 76,75 18,5 81,03 16,5
Eximbank B2 10 000 9,0 2,0 79,24 20,5 01.27.10 84,88 18,5 87,80 16,5
Food Contract B3 15 000 10,5 2,6 103,46 9,0 06.02.10 101,10 10,0 105,79 8,0
Food Contract Corp B2 15 000 8,0 2,7 97,57 9,0 05.31.10 97,60 9,0 99,94 8,0
Halyk Bank B13 5 000 13,0 8,4 115,00 10,3 03.10.10 113,68 10,5 126,57 8,5
Halyk Bank B7 4 000 7,5 4,5 90,62 10,0 03.11.10 91,06 10,0 98,13 8,0
Halyk Bank B9 3 000 7,5 5,0 92,88 9,3 04.22.10 90,26 10,0 97,95 8,0
KaragandyZharyk B1 700 14,0 0,5 80,00 62,2 05.21.10 N/A N/A N/A N/A
Kaspi Bank B6 10 000 8,5 4,9 72,65 17,0 06.17.10 70,08 18,0 75,36 16,0
Kaz Mortgage Co B11 5 000 6,9 4,8 81,72 12,0 06.16.10 75,71 14,0 81,74 12,0
Kaz Mortgage Co B18 5 000 11,0 2,4 95,24 13,0 12.30.09 93,93 14,0 97,91 12,0
Kazakhs Kagazy B4 12 000 12,0 3,2 103,75 10,8 10.30.09 N/A N/A N/A N/A
Kazcat B1 5 000 10,0 2,5 17,39 117,0 06.18.10 16,98 119,0 N/A N/A
KazInvestBank B3 6 100 10,0 0,1 99,94 10,3 06.18.10 99,67 12,0 99,97 10,0
Kazkommerts Invest B1 4 000 8,0 0,2 94,26 16,0 11.24.09 97,90 18,0 98,30 16,0
KazStroiServis B1 3 000 9,0 0,7 98,46 11,0 04.22.10 98,74 11,0 99,98 9,0
Kombisnab B1 2 500 15,0 3,0 2,43 500,0 12.23.09 N/A N/A N/A N/A
Kondensat B1 3 000 8,8 1,5 38,33 142,3 05.11.10 30,86 215,0 30,93 214,4
KSMK-2 B1 1 500 12,0 0,5 95,35 16,0 09.07.09 N/A N/A N/A N/A
KZACI B2 1 500 10,0 1,5 71,32 36,1 05.28.10 75,75 32,0 77,59 30,0
Logicom B2 1 700 11,0 3,5 99,97 11,0 05.13.10 99,99 11,0 105,93 9,0
Mangys Power Distr B2 500 13,0 0,2 100,99 9,0 05.17.10 100,66 9,0 101,02 7,0
Mangys Power Distr B3 700 12,0 1,4 101,13 11,0 06.07.10 99,83 12,0 102,40 10,0
Mangys Power Distr B4 500 12,0 1,9 107,09 8,0 05.06.10 103,21 10,0 106,66 8,0
Mangys Power Distr B5 800 16,0 2,6 112,66 10,5 05.24.10 113,63 10,0 116,00 9,1
Nurbank B5 5 000 7,5 5,9 81,29 12,0 06.16.10 81,30 12,0 89,02 10,0
9
HALYK FINANCE
Weekly Update June 21, 2010
Nurbank B7 10 000 11,0 3,4 106,53 9,0 11.20.09 105,70 9,0 111,84 7,0
Oilan Ltd. B1 500 13,0 0,7 94,61 18,5 01.21.10 N/A N/A N/A N/A
Orda Credit B2 1 500 12,0 2,6 95,67 14,0 06.15.10 N/A N/A N/A N/A
PavlodarEnerServ B1 2 000 9,0 0,5 95,11 14,0 11.24.09 97,58 14,0 98,53 12,0
RG Brands B4 1 500 8,0 1,1 91,89 16,0 06.15.10 91,95 16,0 93,87 14,0
RG Brands B5 1 500 8,0 2,3 97,60 9,0 01.25.10 97,92 9,0 102,11 7,0
RG Brands B6 2 000 8,0 4,3 78,20 15,0 06.15.10 75,60 16,0 80,93 14,0
Sberbank B2 3 000 11,0 0,0 99,35 10,0 06.10.10 99,53 11,0 99,61 9,0
Tema & C B1 1 000 11,0 0,1 89,94 16,0 02.14.08 N/A N/A N/A N/A
Temirbank B13 8 000 9,0 1,8 88,38 15,0 12.03.09 N/A N/A N/A N/A
Temirbank B14 6 000 9,5 5,8 102,47 9,0 07.09.09 N/A N/A N/A N/A
Tsesna Astyk B1 3 000 9,0 1,5 94,08 12,6 01.20.10 N/A N/A N/A N/A
Tsesna Bank B2 3 000 9,0 2,1 90,97 14,0 06.16.10 89,32 15,0 92,71 13,0
Tsesna Bank B4 3 000 8,0 1,0 97,14 11,0 06.04.10 97,24 11,0 99,07 9,0
Tsesna Bank B7 4 000 7,5 17,1 122,70 5,5 06.26.09 99,99 7,5 121,95 5,5
Vostokmashzavod B1 2 000 14,0 4,4 96,61 15,0 02.18.10 96,81 15,0 103,27 13,0
*As of 06/18/2010
Source: KASE
10
HALYK FINANCE
Weekly Update June 21, 2010
Floating coupon
ABDI Company B1 9 000 7,2 2,6 54,51 36,0 04.21.10 56,19 36,0 58,23 34,0
Agri Credit Corp.B1 3 000 8,1 2,1 94,66 9,5 06.17.10 91,96 11,0 95,59 9,0
Alliance Bank B3 3 000 8,2 1,4 21,03 122,0 11.12.09 N/A N/A N/A N/A
Astana Finance B15 8 000 12,0 12,8 114,66 10,0 09.02.09 N/A N/A N/A N/A
Astana Finance B16 30 000 9,4 12,9 50,17 25,0 01.22.10 N/A N/A N/A N/A
Astana Finance B23 5 000 12,0 1,2 104,25 9,4 11.05.09 N/A N/A N/A N/A
Astana Finance B24 5 000 12,0 3,2 107,13 10,0 02.18.09 N/A N/A N/A N/A
Astana Finance B4 2 000 9,9 0,9 18,69 157,0 08.11.09 N/A N/A N/A N/A
Astana Finance B6 2 000 8,0 2,0 11,54 145,5 09.10.09 N/A N/A N/A N/A
Astana Finance B7 8 000 8,0 5,0 19,28 66,0 08.06.09 N/A N/A N/A N/A
AtamekenAgro B2 11 000 17,0 8,1 104,50 9,2 06.02.10 104,49 9,2 116,99 7,2
ATF Bank B5 13 000 10,9 1,9 102,11 8,0 06.14.10 102,10 8,0 105,74 6,0
ATF Bank B6 13 000 10,0 3,7 97,46 8,0 06.14.10 94,44 9,0 100,63 7,0
ATF Bank B7 15 000 8,7 1,4 100,24 8,5 06.10.10 100,00 8,7 102,60 6,7
BankCenterCredit B10 3 000 10,0 5,3 84,78 11,7 03.19.10 89,34 11,0 97,08 9,0
BankCenterCredit B11 2 000 9,9 5,5 89,15 12,5 12.04.09 89,44 9,5 97,77 7,5
BankCenterCredit B13 4 000 10,5 5,8 83,80 11,7 03.19.10 92,61 10,0 101,36 8,0
BankCenterCredit B14 5 000 10,0 6,3 85,88 11,5 06.17.10 87,92 11,0 96,66 9,0
BankCenterCredit B15 3 000 10,0 6,9 102,31 9,3 06.29.09 94,03 9,5 104,21 7,5
BankCenterCredit B18 5 000 7,0 12,5 99,95 13,0 09.14.09 94,07 9,0 109,87 7,0
BankCentercredit B20 3 500 8,4 13,4 93,34 8,0 12.04.09 103,24 8,0 121,87 6,0
BankCenterCredit B22 12 000 12,0 9,4 N/A N/A N/A 118,80 9,0 134,11 7,0
BankCenterCredit B4 2 000 10,1 1,3 99,60 9,0 05.14.10 99,62 9,0 102,01 7,0
BankCenterCredit B6 1 300 10,4 4,5 92,65 9,5 05.17.10 91,06 10,0 98,13 8,0
BankCenterCredit B7 2 000 8,2 4,9 90,21 9,5 05.25.10 89,52 11,0 96,85 9,0
BankCenterCredit B8 2 000 9,3 5,2 90,56 11,7 03.19.10 93,41 11,0 101,19 9,0
BankCenterCredit B9 4 500 8,3 5,2 87,72 11,4 03.19.10 89,55 11,0 97,14 9,0
Batys Transit B1 18 830 9,2 8,8 94,00 10,2 01.19.10 95,00 8,6 107,59 6,6
BTA Bank B3 7 500 9,4 3,4 35,57 47,0 08.13.09 N/A N/A N/A N/A
BTA Bank B4 14 000 8,0 4,0 8,50 140,4 12.07.09 N/A N/A N/A N/A
BTA Ipoteka B1 500 10,0 0,5 87,00 25,0 12.24.09 N/A N/A N/A N/A
BTA Ipoteka B11 10 000 8,1 6,1 45,78 25,0 02.05.10 N/A N/A N/A N/A
BTA Ipoteka B14 10 000 7,3 3,8 45,00 30,6 03.04.10 N/A N/A N/A N/A
BTA Ipoteka B16 14 000 7,5 7,8 27,20 34,5 12.03.09 N/A N/A N/A N/A
BTA Ipoteka B2 1 500 7,3 4,3 36,00 41,3 06.15.10 N/A N/A N/A N/A
BTA Ipoteka B3 2 000 6,8 1,5 38,50 91,0 06.17.10 39,00 89,9 N/A N/A
BTA Ipoteka B5 4 000 8,1 4,9 36,00 37,6 06.15.10 N/A N/A N/A N/A
BTA Ipoteka B7 4 000 7,2 2,1 58,94 32,0 10.06.09 N/A N/A N/A N/A
BTA Ipoteka B8 7 000 7,8 3,2 45,00 39,6 06.16.10 29,00 60,5 N/A N/A
BTA Ipoteka B9 4 000 7,4 5,7 52,79 22,5 06.09.10 N/A N/A N/A N/A
Delta Bank B1 3 000 11,0 2,3 61,73 35,0 06.18.10 60,66 36,0 62,82 34,0
Denta Lux B1 500 13,9 0,4 73,68 49,8 09.10.09 N/A N/A N/A N/A
Dosjan Temir Zholy B1 30 000 8,9 18,1 76,89 12,0 03.19.10 N/A N/A N/A N/A
ERKA B1 2 500 10,0 3,4 N/A N/A N/A 99,98 10,0 105,84 8,0
Eurasian Bank B2 3 000 7,5 1,5 100,97 6,9 01.13.10 100,74 7,0 102,26 5,9
Eurasian Bank B3 10 000 9,7 2,8 93,82 11,0 06.11.10 89,46 13,0 93,86 11,0
Eurasian Bank B4 10 000 7,9 4,2 89,65 11,0 05.31.10 89,75 11,0 96,19 9,0
Eurasian Bank B5 10 000 8,6 13,2 72,33 13,0 11.16.09 113,62 7,0 134,48 5,0
Eurasian Bank B8 15 000 13,0 13,3 122,41 10,0 08.28.09 76,59 10,5 82,80 9,5
Eximbank B3 10 000 9,0 5,1 81,40 14,0 02.08.10 96,08 10,0 104,09 8,0
11
HALYK FINANCE
Weekly Update June 21, 2010
GLOTUR B2 9 000 8,4 1,7 106,57 7,6 04.23.09 N/A N/A N/A N/A
Halyk Bank B10 5 000 7,9 5,4 90,81 10,2 06.10.10 90,84 10,2 98,91 8,2
Halyk Bank B11 4 000 6,0 5,8 93,22 9,3 04.20.10 90,42 10,0 99,06 8,0
Halyk Bank B12 10 000 8,0 7,3 94,60 10,3 04.15.10 93,45 10,5 103,73 8,5
Halyk Bank B14 5 000 13,0 8,4 102,18 7,5 06.07.10 102,02 12,6 102,79 12,5
Halyk Bank B4 5 000 10,7 0,0 100,87 4,5 04.22.10 100,13 4,5 100,19 2,5
Halyk Bank B8 4 000 9,8 4,8 84,43 13,0 01.27.10 95,43 9,5 103,17 7,5
JP Morgan E1 1 320 10,4 5,7 99,87 4,9 12.15.09 N/A N/A N/A N/A
Kaspi Bank B4 7 000 7,4 1,0 95,02 14,0 06.17.10 94,21 15,0 95,88 13,0
Kaspi Bank B5 3 500 6,8 1,6 88,46 15,0 06.01.10 87,51 16,0 88,59 15,1
Kaspi Bank B7 5 000 8,3 8,0 76,83 13,1 06.04.10 83,43 13,0 92,69 11,0
Kaz Mortgage Co B12 5 000 7,5 6,8 71,35 12,0 12.07.09 70,77 14,0 78,11 12,0
Kaz Mortgage Co B16 5 000 6,2 6,6 92,32 9,0 12.07.09 82,04 10,0 84,17 9,5
Kaz Mortgage Co B17 10 000 6,5 6,0 76,73 12,0 05.13.10 73,41 14,5 80,20 12,5
Kaz Mortgage Co B19 5 000 10,2 3,1 100,50 10,0 06.16.10 95,46 12,0 100,50 10,0
Kaz Mortgage Co B2 3 000 8,0 3,3 86,44 13,0 04.20.10 83,44 14,5 84,58 14,0
Kaz Mortgage Co B3 5 000 8,2 3,8 84,63 13,5 06.16.10 83,36 14,0 84,65 13,5
Kaz Mortgage Co B4 5 000 7,7 3,8 84,03 13,0 04.22.10 80,67 14,5 80,80 14,5
Kaz Mortgage Co B6 5 000 7,6 0,8 95,58 13,5 06.10.10 95,35 14,0 96,76 12,0
Kaz Mortgage Co B7 5 000 7,3 1,3 92,76 13,5 06.10.10 92,33 14,0 94,52 12,0
Kaz Mortgage Co B8 5 000 7,3 4,3 80,26 13,5 06.16.10 78,91 14,0 80,28 13,5
KazAgroFinance B1 3 000 8,5 1,5 98,99 9,2 06.04.10 99,30 9,0 102,13 7,0
Kazakhs Kagazy B2 3 500 7,7 0,8 75,19 31,0 09.02.09 N/A N/A N/A N/A
Kazakhs Kagazy B3 3 500 9,1 3,2 65,00 23,0 09.02.09 N/A N/A N/A N/A
KazExportAstyk B1 4 000 9,1 0,9 106,97 8,9 06.30.06 100,93 8,0 102,68 6,0
KazExportAstyk B2 6 000 6,8 1,0 93,87 12,5 04.21.10 95,10 12,0 96,94 10,0
KazInvestBank B1 1 250 8,0 2,5 92,96 11,3 05.20.10 94,37 12,0 98,49 10,0
Kazkommertsbank B4 7 000 8,9 4,8 93,15 10,0 05.07.10 93,28 10,0 100,76 8,0
Kazkommertsbank B5 5 500 7,7 5,2 95,45 8,8 06.18.10 N/A N/A 103,89 8,3
Kazkommertsbank B6 10 000 7,5 7,2 100,00 9,5 06.07.10 91,65 11,2 101,57 9,2
Kazkommertsbank B7 10 000 9,0 8,4 94,08 10,1 04.30.10 94,39 10,0 106,01 8,0
Kazkommertsbank B8 10 000 9,0 8,8 88,79 11,0 05.18.10 83,89 12,0 94,19 10,0
Kaztranscom B2 45 500 10,0 9,4 91,90 N/A 01.14.10 97,70 13,0 101,17 11,0
KedenTransServis B1 5 000 8,6 1,8 87,00 17,0 05.21.10 N/A N/A N/A N/A
KSMK B1 1 300 8,7 1,7 47,35 50,0 09.14.09 N/A N/A N/A N/A
KSMK B2 1 300 9,7 2,4 54,06 41,3 05.28.10 N/A N/A N/A N/A
LogiCom B1 1 900 7,7 0,2 95,10 26,0 05.19.10 96,04 28,0 96,40 26,0
Nurbank B6 5 000 7,4 4,6 95,96 14,0 11.03.09 114,15 4,0 114,38 4,0
Ordabassy B2 12 000 8,0 1,4 14,48 172,6 11.30.09 N/A N/A N/A N/A
Ornek XXI B1 4 000 10,1 0,2 41,19 82,0 01.28.09 N/A N/A N/A N/A
Sat & C B1 15 000 8,2 4,5 119,97 5,0 12.29.09 93,55 10,0 100,74 8,0
Sberbank B3 3 000 9,2 1,4 100,28 8,0 04.26.10 100,23 9,0 102,81 7,0
Temirbank B10 4 500 6,8 6,4 78,98 13,0 07.02.09 N/A N/A N/A N/A
Temirbank B11 4 000 6,8 11,4 99,99 9,0 11.03.09 N/A N/A N/A N/A
Temirbank B17 6 000 8,4 6,8 73,33 14,0 11.27.08 N/A N/A N/A N/A
Temirbank B4 5 000 9,0 5,0 93,71 9,0 01.12.06 N/A N/A N/A N/A
Temirbank B6 4 000 6,8 2,5 43,44 47,4 06.17.10 N/A N/A N/A N/A
Temirbank B7 3 000 8,5 4,9 99,00 10,5 10.21.09 N/A N/A N/A N/A
Temirbank B8 3 500 8,5 1,9 104,44 8,7 08.23.06 N/A N/A N/A N/A
Temirleasing B1 500 11,0 1,8 72,43 30,0 06.04.10 76,15 27,0 78,45 25,0
Tort Kudyk B1 2 000 11,0 1,4 106,28 7,0 02.22.10 105,17 8,1 107,87 6,1
12
HALYK FINANCE
Weekly Update June 21, 2010
Tsesna Bank B5 3 000 6,8 4,0 78,36 14,0 06.16.10 73,43 16,0 78,38 14,0
Tsesna Bank B6 4 000 6,8 5,5 78,94 12,0 04.02.10 77,91 14,0 84,64 12,0
Vita B5 6 000 9,7 2,9 12,79 126,5 06.16.10 12,81 126,5 13,12 124,5
*As of 06/18/2010
Source: KASE
Government Bonds
Primary market
Number of Number of
Type of Average
Nominal Issue size, given satisfied Number of
government Issue Date Matur Date price,% YTM,%
value mn (KZT) requests, mn requests, mn paticipants
paper nomial
(KZT) (KZT)
Source: KASE
13
HALYK FINANCE
Weekly Update June 21, 2010
14
HALYK FINANCE
Weekly Update June 21, 2010
15
HALYK FINANCE
Weekly Update June 21, 2010
Volume
Mkt 52- 52-
of trade, Primary
Stock Crncy Last 1W % cap, YTD% 1Y % week week
5d avg, Exchange
USD mn low high
th
16
HALYK FINANCE
Weekly Update June 21, 2010
Disclaimer
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or contact Halyk Finance office. All rights reserved. This document and/or information has been prepared by and, except as otherwise
specified herein, is communicated by Halyk Finance.
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Address Bloomberg
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17