Communication from the Ministry of Finance No. 261 / 2003 Coll.
Communication from the Ministry of Finance determining the emission conditions of the Czech Debt, 2003 - 2018, 4.60%
Valid
Communication
Text versions:
14.08.2003
261
COMMUNICATION
Ministry of Finance
of 1 August 2003
determining the emission conditions of the Czech Debt, 2003 - 2018, 4,60%
The Ministry of Finance in accordance with § 19 of Act No. 530 / 1990 Coll., on Bonds, as amended, § 1 of Act No. 120 / 2003 Coll., on the State Bond Programme to cover part of the budget deficit of the Czech Republic for 2003, and § 1 of Act No. 121 / 2003 Coll., on the State Bond Programme to cover the State Budget Deficit for 2001 and the outstanding part of the State Budget Deficit for 2000, determines the emission conditions of the Czech Debt, 2003 - 2018, 4,60%:
1. Basic characteristics of bonds:
Issue: Czech Republic represented by Ministry of Finance
Name: Bonds of the Czech Republic, 2003 - 2018, 4.60%
Short name: Czech Republic, 4.60%, 18
Issuing serial number: 41
Nominal value: CZK 10 000
Form of the bond: bearer security
Debt form: book-entry security
Issuing date: 18 August 2003
Date of due date: 18 August 2018
Interest income: coupon at a fixed interest rate of 4,60% p.a.
Taxation of interest income: according to Czech legislation
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Coupon No 1, split ISIN: CZ 00700380
Coupon No 2, split ISIN: CZ 00700398
Coupon No 3, split ISIN: CZ 00700406
Coupon No 4, split ISIN: CZ 0000700414
Coupon No 5, split ISIN: CZ 00700422
Coupon No 6, split ISIN: CZ 00700430
Coupon No 7, split ISIN: CZ 00700547
Coupon No 8, split ISIN: CZ 00700455
Coupon No 9, split ISIN: CZ 00700463
Coupon No 10, split ISIN: CZ 00700471
Coupon No 11, split ISIN: CZ 00700489
Coupon No 12, split ISIN: CZ 0000700497
Coupon No 13, split ISIN: CZ 0000700505
Coupon No 14, split ISIN: CZ 0000700513
Coupon No 15, split ISIN: CZ 0000700521
Principal, split ISIN: CZ 00700539.
2. The bonds are issued pursuant to Section 1 of Act No. 120 / 2003 Coll., on the State bond programme to cover part of the budget deficit of the Czech state budget for 2003, and Section 1 of Act No. 121 / 2003 Coll., on the State bond programme to cover the government deficit for 2001 and the outstanding part of the government deficit for 2000.
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 the transfer of securities on the account of the holders of the securities centre shall be 18 July 2018.
6. The bonds shall be remunerated at a fixed interest rate of 4,60% p.a. Interest income shall be paid once a year on 18 August 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. Date of the ex- coupon is the day following the operative day and is set at 19 July. Interest income shall always be received by the investor who holds the bond on 18 July of each year. Interest income for the first year shall be received by the investor who holds the bond on 18 July 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 13 August 2003. The primary sale of further tranches will be carried out under the same conditions. This Regulation shall be binding in its entirety and directly applicable in all Member States. 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 75,000 000 000.
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 18 August 2018. 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 18 July 2018. 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 Komerční banka, 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. 261 / 2003 Coll., determining the emission conditions of the Czech Debt, 2003 - 2018, 4.60% |
|---|---|
| Regulation Type | Communication |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 14.08.2003 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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