Terms And Conditions Of The Bond Of The Czech Republic 2008-2016, Var
Original Language Title: emisní podmínky Dluhopisu České republiky 2008 - 2016, VAR
Read the untranslated law here: https://portal.gov.cz/app/zakony/download?idBiblio=67470&nr=375~2F2008~20Sb.&ft=txt
The COMMUNICATION FROM the
The Ministry of finance
of 3 July 2003. October 2008,
which specify the conditions of the bond of the Czech Republic, 2008-2016,
The Ministry of Finance issued Treasury bonds in accordance with § 25 of the law No.
190/2004 Coll. on bonds, as amended, (hereinafter referred to as
"the law on bonds") and specifies the terms and conditions of the bond of the Czech
Republic, 2008-2016, VAR:
1. basic characteristics of the bonds:
Issuer: Czech Republic represented by the Ministry of finance
Name: Bond of the Czech Republic, 2008-2016, VAR
Short name: the CZECH REPUBLIC, VAR, 16
Serial number of the emission: 55.
Nominal value: £ 10,000
Form of a bond: bearer securities
Form of a bond: book-entry securities
Issuing date: 27. October 2008
Due date: 27. October 2016
Interest income: coupon with floating rate
The taxation of interest income: according to the legislation of the Czech Republic
2. Bonds are within the meaning of § 25 para. 2 of the Act on bonds issued
on the basis of special legislation, which release Government bonds.
3. the following shall be added to the bearer Bonds and are issued in book-entry form.
The register of owners of securities Centre leads.
4. Bonds may acquire legal and natural persons established or
resident in the territory of the Czech Republic and abroad. Repatriation of proceeds and
paid-up nominal values abroad will be carried out according to legal
the laws of the United States.
5. the issuer shall make a proposal on the adoption of the bonds to trading on the
market of the Prague stock exchange, a. s.
6. Bonds are interest-bearing variable interest rate. The reference rate
6 m PRIBOR rate is fixed at 6 months, valid for one
the yield of the period. Interest income is paid twice a year, to
27. April and 27. October of the year concerned. If the date of payment would yield
on a day which is not a business day, the payment will be made the first
the following working day without the right to return for this postponement of the payment.
7. for the first six-month period, the interest rate will be determined in the
the day of the auction. For the following six-month period, the interest rate yield
fixed 2 working days before the beginning of a new period, on the day of the income
the determination will be published.
8. The record date for the payment of the proceeds of the bond is preceded by one month
days to maturity yield from the bond. Ex-coupon date is the day following the
the closing date is set at 28. March and 28. September. Interest income
always receives the investor who is the owner of the bond 27. March and 27.
September of each year. Interest income for the first period from the issue date to 27.
April 2009 will receive an investor who is the owner of the bond 27. March
9. transferability of the bonds in the securities Center, beginning on the day
credited to the accounts of the first owners of the bonds. The last day will be
experience to transfer securities on accounts in securities Centre
papers, is 27. September 2016.
10. calculation of aliquot interest rate is based on one year of 360
days, and the actual number of days in period (BCK-standard act/360). The relative
part of the interest income is added to the price of a bond calculated from the date of issue.
11. Bonds to be issued after each of the sections (tranches).
The primary sale of 1. the tranche will be made in the form of American auction organized by the
The Czech National Bank for a group of actors on 22 November. October 2008.
Other investors may participate in the auction via direct
participants. Notice of the auction and the list of direct participants in advance
disclosed to the public. The primary sale of other tranches will be carried out under the same
terms and conditions. Emission time limit expire on 27. September 2016.
12. Each order passed to auction direct participants are
met gradually from the highest price offered. When the progressive
meeting the orders with a specific price would be "offered volume
orders exceeded the volume of bonds, which are sold by the issuer
order with this push the price only in partial
the range. The bonds are sold at the prices offered.
13. The total volume of issue of bonds is 40 000 000 000 CZK.
Bonds may be issued in a small or large volume in accordance with §
11 of the Act on the bonds in a range that will respond to the development and
the structure of the funding of the national debt. The volume of emissions may be increased
up to 80 000 000 000 CZK.
14. The valid assessment of financial eligibility (rating) of long-term
on CZK-denominated liabilities on the date of release of these emission conditions made
by Standard Poor's & is level A +, Moody's on
15. The Department of Justice on the yield of a bond pursuant to section 18 of the Act on bonds
It is not allowed.
16. The Ministry of finance declares that he owes to each owner
Bond nominal value of the bond. The bonds will be repaid in
the nominal value at the date of 27. October 2016. From this day ends with the remuneration
bonds. The nominal value of the bond, together with the last interest
the proceeds will be paid to the investor, which is the owner of the bond of the day
September 27, 2016. If the day falls on the day of repayment of principal, which is not
business day, the payment of the first following working day
without the right to return for this postponement of the payment.
17. Any and all rights associated with the bonds and coupons are issued to them in
pursuant to section 42 of the Act on bonds forfeited in the expiry of 10 years from the
the date on which it could be invoked for the first time.
18. The Ministry of finance is committed to secure the payment of interest
the proceeds of the bonds and repay the nominal value of the bonds of their
According to the owners of these emission conditions. Payment is
National Bank. Coupons and the principal of the bonds are paid by direct debit
transfer or in cash, according to the instructions of the owner of the bond.
Payment instead shall publish the manner in which payment of the coupon and redemption
the nominal value is executed.
19. Bonds are direct, unconditional and nepodřízenými liabilities
States that are on the same level with all the other existing
and future direct, unconditional and nepodřízenými liabilities
of the Republic.
20. the notification to the public about these bonds will be
published in newspapers or other similarly focused
the journal, commonly available in the Czech Republic and in a manner allowing
21. these terms and conditions may be translated into foreign languages. If there is a
a conflict between the various language versions, the issue conditions
Ing. Kalousek in r.
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