Communication from the Ministry of Finance No 183 / 2003 Coll.
Communication from the Ministry of Finance determining the emission conditions of the Czech Debt, 2003 - 2013, 3,70%
Valid
Communication
Text versions:
12.06.2003
183
COMMUNICATION
Ministry of Finance
of 14 May 2003
determining the emission conditions of the Czech Debt, 2003-2013, 3,70%
The Ministry of Finance, in accordance with Article 19 of Act No. 530 / 1990 Coll., on Bonds, as amended, and Article 1 of Act No. 122 / 2003 Coll., on the State Debt Guarantee Scheme to Refund State Debt Maturity in 2003 and 2004, Section 1 of Act No. 9 / 2001 Coll., on the State Bond Scheme to obtain funds for the provision of Recoverable Financial Assistance from the State Budget to cover the payment of compensation from the Cooperative Deposit Guarantee Fund in 1999, and Section 1 of Act No. 342 / 1999 Coll., on State Bond Programmes to Refund the State Debt in 2000 and the Czech Republic's deficit in excess of the Budget, determines the issue conditions of the Czech Republic's Debt, 2003-2013, 3.70%:
1. Basic characteristics of bonds:
Issue: Czech Republic represented by Ministry of Finance
Name: Bonds of the Czech Republic, 2003 - 2013, 3,70%
Short name: Czech Republic, 3.70%, 13
Issuing serial number: 40
Order number of tranche: 1
Nominal value: CZK 10 000
Form of the bond: bearer security
Debt form: book-entry security
Issuing date: 16 June 2003
Date of due date: 16 June 2013
Interest income: coupon at a fixed interest rate of 3,70% p.a.
Taxation of interest income: according to Czech legislation
ISIN: CZ0001000814
Coupon No 1, split ISIN: CZ0000700281
Coupon No 2, split ISIN: CZ0000700299
Coupon No 3, split ISIN: CZ0000700307
Coupon No 4, split ISIN: CZ0000700315
Coupon No 5, split ISIN: CZ0000700323
Coupon No 6, split ISIN: CZ0000700331
Coupon No 7, split ISIN: CZ0000700349
Coupon No 8, split ISIN: CZ0000700356
Coupon No 9, split ISIN: CZ0000700364
Coupon No 10, split ISIN: CZ0000700372
Principal, split ISIN: CZ0000700273.
2. The bonds are issued pursuant to § 1 of Act No. 122 / 2003 Coll., on the State bond programme to cover the principal of the State debt payable in 2003 and 2004, § 1 of Act No. 9 / 2001 Coll., on the State bond programme to obtain the funds to provide a refundable financial assistance from the State budget to cover the payment of compensation from the Cooperative Guarantee Fund, and § 1 of Act No. 342 / 1999 Coll., on State bond programmes to cover the principal of the State debt due in 2000 and the deficit of the State budget of the Czech Republic for 1999 in excess of the budgetary deficit.
3. The bonds are referred to the bearer and are issued in a book form. Owners' records are kept by the Securities Centre.
4. Bonds may be acquired by legal and natural persons with their registered office or residence in the Czech Republic and abroad. Repatriation of income and paid-up nominal value abroad will be carried out according to Czech legislation.
5. The issuer shall submit a proposal for the registration of bonds in the main market of the Prague Stock Exchange, a. s. Transferability of bonds in the Securities Centre begins with the date of the deposit of bonds into the accounts of the first owners. The last day of transfers of securities on the account of the owners of the securities centre is 16 May 2013.
6. The bonds shall be remunerated at a fixed interest rate of 3,70% p.a. Interest income shall be paid once a year on 16 June of the year concerned. If the day of payment of the income per day of work is the day of work, the payment shall be made on the first following working day without entitlement to the income for such deferral.
7. The operative date for the payment of the bond yield shall be one month before the maturity date of the bond yield. The date of the ex- coupon is the day following the operative day and is set at 17 May. Interest income shall always be received by the investor who holds the bond on 16 May of each year. Interest income for the first year shall be received by the investor who holds the bond on 16 May 2004.
8. The calculation of the proportion of interest is based on one year of 360 days and 12 months after 30 days (BCK - standard 30E / 360). The proportion of interest income is included in the price of the bond from the issue date.
9. Bonds will be issued by individual parts (tranches). The primary sale of the 1st tranche will take the form of a yield auction organised by the Czech National Bank for a group of direct participants on 11 June 2003. The primary sale of further tranches will be carried out under the same conditions. The emission period shall expire on 16 May 2013. Other investors may participate in the auction through direct participants. The auction notice and the list of direct participants will be published in advance.
10. The total estimated volume of bond issuance is CZK 80,000 000 000.
11. The Ministry of Finance declares that it owes each bond holder the nominal value of the bond. The bonds will be repaid at nominal value on 16 June 2013. This day also ends the interest on bonds. The nominal value of the bond, together with the last interest income, will be paid to the investor who holds the bond on 16 May 2013. If the repayment of principal is due on the day of work, the payment shall be made on the first following working day without entitlement to the proceeds for such deferral.
12. All rights arising from bonds shall be barred from the date of maturity of 10 years (Section 23 of Act No. 530 / 1990 Coll., on bonds, as amended).
13. The Ministry of Finance undertakes to ensure the payment of interest income on bonds and to repay the nominal value of bonds to their owners according to these emission conditions. The payment point is the Czechoslovak Commercial Bank, a. s. The payment point will publish the way in which payment of the coupon and repayment of the nominal value will be made.
14. Bonds are direct, unconditional and unsubordinated liabilities of the Czech Republic which are at the same level as all other existing and future direct, unconditional and unsubordinated liabilities of the Czech Republic.
15. The announcement to the public concerning these bonds will be published.
16. These emission conditions may be translated into foreign languages. If there is a conflict between different language versions of emission conditions, the Czech version will be decisive.
Minister:
Sobotka v. r.
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Regulation Information
| Citation | Communication from the Ministry of Finance No. 183 / 2003 Coll., determining the emission conditions of the Czech Debt, 2003 - 2013, 3.70% |
|---|---|
| Regulation Type | Communication |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 12.06.2003 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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