Communication from the Ministry of Finance No. 321 / 2010 Coll.
Communication from the Ministry of Finance determining the emission conditions of the Czech Debt, 2010 - 2021, 3.85%
Valid
Communication
Text versions:
29.11.2010
321
COMMUNICATION
Ministry of Finance,
determining the emission conditions of the Czech Debt, 2010- 2021, 3,85%
The Ministry of Finance issues government bonds in accordance with Section 25 of Act No. 190 / 2004 Coll., on Bonds, as amended, (hereinafter referred to as the "Bonds Act") and determines the emission conditions of the Bonds of the Czech Republic, 2010-2021, 3,85%:
1. Basic characteristics of bonds:
Issue: Czech Republic represented by Ministry of Finance
Name: Bonds of the Czech Republic, 2010- 2021, 3,85%
Short name: Czech Republic, 3.85%, 21
Issuing serial number: 61.
Nominal value: CZK 10 000
Form of the bond: bearer security
Debt form: book-entry security
Issuing date: 29 November 2010
Date of maturity: 29 September 2021
Interest income: fixed rate coupon 3,85% per annum
Taxation of interest income: according to Czech legislation
| ISIN: CZ0001002851 | |
| Kupon č. 1 odtržený, | ISIN: CZ0000702394 |
| Kupon č. 2 odtržený, | ISIN: CZ0000702402 |
| Kupon č. 3 odtržený, | ISIN: CZ0000702410 |
| Kupon č. 4 odtržený, | ISIN: CZ0000702428 |
| Kupon č. 5 odtržený, | ISIN: CZ0000702436 |
| Kupon č. 6 odtržený, | ISIN: CZ0000702444 |
| Kupon č. 7 odtržený, | ISIN: CZ0000702451 |
| Kupon č. 8 odtržený, | ISIN: CZ0000702469 |
| Kupon č. 9 odtržený, | ISIN: CZ0000702477 |
| Kupon č. 10 odtržený, | ISIN: CZ0000702485 |
| Kupon č. 11 odtržený, | ISIN: CZ0000702493 |
| Jistina odtržená, | ISIN: CZ0000702386 |
2. The bonds are issued under Section 25 (2) of the bond law on the basis of special laws allowing the issue of sovereign debt.
3. The bonds are referred to the bearer and are issued in a book form. The CSD shall keep records of the owners, a. s.
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 will submit a proposal for the admission of bonds to trading on the main market of the Prague Stock Exchange, a.s.
6. 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 shall be the day following the operative day and shall be 30 August. Interest income will always be received by the investor who owns the bond on 29 August starting in 2011. The interest income for the first yield period from the date of issue until 29 September 2011 shall be received by the investor who owns the bond on 29 August 2011.
7. The bonds are remunerated at a fixed interest rate of 3,85% per annum Interest income shall be paid once a year on 29 September starting in 2011. If the date of payment of the proceeds is not the working day, the payment shall be made on the first following working day without entitlement to the proceeds for such deferral.
8. The transfer of bonds in the Central Securities Depository shall begin on the date on which the bonds are credited to the accounts of the first owners. The last day on which securities are transferred to the central securities depository accounts is 29 August 2021.
9. 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.
10. Bonds will be issued in individual parts (tranches). The primary sale of the 1st tranche will take the form of an American auction organised by the Czech National Bank for a group of direct participants on 24 November 2010. Other investors may participate in the auction through direct participants. The auction notice and the list of direct participants will be published in advance. The primary sale of further tranches will be carried out under the same conditions. This Decision shall enter into force on the date of its adoption.
11. Individual orders submitted to the auction by direct participants are satisfied gradually from the highest price offered. If, in the gradual settlement of orders with a certain price offered, the volume of orders that the issuer sells exceeds the volume of bonds that the issuer sells, orders with that price offered are only partially satisfied. Bonds are sold at offered prices.
12. The total estimated volume of bond issuance is CZK 95 000 000 000. Bonds may be issued in smaller or larger volumes in accordance with Section 11 of the bond law to the extent that they correspond to the development and structure of the financing of the State budget deficit. The volume of emissions can be increased to a maximum of CZK 120 000 000 000.
13. The valid assessment of the financial capacity (rating) of the long-term Crown liabilities at the date of issue of these emission conditions by Standard & Poor's is at level A, Moody's at level A1, Fitch Ratings at level A +.
14. The separation of the bond yield right under Paragraph 18 of the bond law is allowed.
15. 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 29 September 2021. From this day on, bond interest ends. The nominal value of the bond together with the last interest income will be paid to the investor who owns the bond on 29 August 2021. If the date of repayment of principal is not the working day, the payment shall be made on the first following working day without entitlement to the proceeds for such deferral.
16. Any rights attached to bonds and coupons issued to them within the meaning of Article 42 of the bond law shall be waived within a period of 10 years from the date on which they could be exercised for the first time.
17. 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 under these emission conditions. The paying place is the Czech National Bank. Coupons and bond principal are paid by cash transfer, or cash, according to the instructions of the bond owner. The payment venue shall publish the way in which the coupon payment and repayment of the nominal value will be made.
18. 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.
19. The announcement to the public concerning these bonds will be published in the Economic Newspapers or other similarly targeted daily newspapers, commonly available in the Czech Republic, and in a way that allows remote access.
20. 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:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Communication from the Ministry of Finance No. 321 / 2010 Coll., determining the emission conditions of the Czech Debt, 2010 - 2021, 3.85% |
|---|---|
| Regulation Type | Communication |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 29.11.2010 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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