Communication from the Ministry of Finance No 525 / 2006 Coll.
Communication from the Ministry of Finance determining the emission conditions of the Czech Debt, 2006 - 2036, 4,20%
Valid
Communication
525
COMMUNICATION
Ministry of Finance
of 29 November 2006
determining the emission conditions of the Czech Debt, 2006 - 2036, 4,20%
The Ministry of Finance issues government bonds in accordance with § 25 of Act No. 190 / 2004 Coll., on Bonds, as amended, (hereinafter referred to as "the bond law") and determines the emission conditions of the Bonds of the Czech Republic, 2006 - 2036, 4,20%:
1. Basic characteristics of bonds:
Issue: Czech Republic represented by Ministry of Finance
Name: Bonds of the Czech Republic, 2006 - 2036, 4,20%
Short name: Czech Republic, 4.20%, 36
Issuing serial number: 49.
Nominal value: CZK 10 000
Form of the bond: bearer security
Debt form: book-entry security
Issuing date: 4.12.2006
Due date: 4.12.2036
Interest income: coupon at a fixed interest rate of 4,20% p.a.
Taxation of interest income: according to Czech legislation
_
Coupon No 1, ISIN: CZ0000700836
Coupon No 2, ISIN: CZ0000700844
Coupon No 3, ISIN: CZ0000700851
Coupon No 4, ISIN: CZ0000700869
Coupon No 5, ISIN: CZ0000700877
Coupon No 6, ISIN: CZ0000700885
Coupon No 7, ISIN: CZ0000700893
Coupon No 8, ISIN: CZ0000700901
Coupon No 9, ISIN: CZ0000700919
Coupon No 10, ISIN: CZ0000700927
Coupon No 11, ISIN: CZ0000700935
Coupon No 12, ISIN: CZ0000700943
Coupon No 13, ISIN: CZ0000700950
Coupon No 14, ISIN: CZ0000700968
Coupon No 15, ISIN: CZ0000700976
Coupon No 16, ISIN: CZ0000700984
Coupon No 17, ISIN: CZ0000700992
Coupon No 18, ISIN: CZ0000701008
Coupon No 19, ISIN: CZ0000701016
Coupon No 20, ISIN: CZ0000701024
Coupon No 21, ISIN: CZ0000701032
Coupon No 22, ISIN: CZ0000701040
Coupon No 23, ISIN: CZ0000701057
Coupon No 24, ISIN: CZ0000701065
Coupon No 25, ISIN: CZ0000701073
Coupon No 26, ISIN: CZ0000701081
Coupon No 27, ISIN: CZ0000701099
Coupon No 28, ISIN: CZ0000701107
Coupon No 29, ISIN: CZ0000701115
Coupon No 30, ISIN: CZ0000701123
Stranded principal, ISIN: CZ0000700828
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. Owners' records shall be 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 will submit a proposal for the admission of bonds to trading on the main market of the Prague Stock Exchange, a.s.
6. Bonds shall be remunerated at a fixed interest rate of 4,20% p.a. Interest income shall be paid once a year on 4 December of the year concerned. 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.
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 for November 5. Interest income shall always be received by the investor who owns the bond on 4 November of each year. Interest income for the first year shall be received by the investor who owns the bond on 4 November 2007.
8. The transferability of bonds in the Securities Centre shall begin with the date on which the bonds are credited to the accounts of the first owners. The last day of securities transfers in the securities centre accounts is November 4, 2036.
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 29 November 2006. 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. The emission period shall expire on 4 November 2036.
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 issue is CZK 45,000 000 000. 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 State debt financing. The volume of emissions can be increased to a maximum of CZK 80,000 000 000.
13. The valid assessment of the financial capacity (rating) of long-term Crown liabilities at the date of issue of these emission conditions by Standard & Poor's is at A + level, Moody's at A1 level.
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 4 December 2036. 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 4 November 2036. 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 holder. 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 notices to the public regarding these bonds will be published in the Economic Newspapers or other similarly targeted 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. Fat, CSc.
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Regulation Information
| Citation | Communication from the Ministry of Finance No. 525 / 2006 Coll., determining the emission conditions of the Czech Debt, 2006 - 2036, 4,20% |
|---|---|
| Regulation Type | Communication |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.12.2006 |
|---|---|
| Effective from | - |
| Effective until | - |
| Status | Valid |
Legal Areas:
Securities
Finance
The regulation text is for informational purposes only.
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