Terms And Conditions Of The Bond Of The Czech Republic, 2005-2015, 3.80%

Original Language Title: emisní podmínky Dluhopisu České republiky, 2005 - 2015, 3,80 %

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136/2005 Sb.



The COMMUNICATION FROM the



The Ministry of finance



of 16 December 2002. March 2005,



which specify the conditions of the bond of the Czech Republic, 2005-2015,

3.80%



The Ministry of finance in accordance with section 25 of Act No. 190/2004 Coll., on

bonds, § 1 of the law No. 122/2003 Coll., on the State bond

Programme on payment of sovereign debt due in principal between 2003 and

2004, § 1 of the law No. 5/2005 Coll., on the State bond program on

cover part of the losses of the Czech consolidation agency, the resulting from the reception of the

non-performing assets from 1991 to 2003, section 1 of Act No. 313/2004 Coll., on

Government bond programme to cover part of the budgeted deficit

the State budget of the Czech Republic for the year 2004 and amending Law No.

353/2003 SB., on the Excise Tax Act, as amended by Act No. 483/2003 Coll.

Specifies the terms and conditions of the bond of the Czech Republic, 2005-2015, 3.80%:



1. basic characteristics of the bonds:



Issuer: Czech Republic represented by the Ministry of finance



Name: Bond of the Czech Republic, 2005-2015, 3.80%



Short name: the CZECH REPUBLIC, 3.80%, 15



Serial number: 44 emissions.



Nominal value: £ 10,000



Form of a bond: bearer securities



Form of a bond: book-entry securities



Issuing date: 11. April 2005



Maturity date: 11. April 2015



Interest income: fixed rate coupon 3.80% p. a.



The taxation of interest income: according to the legislation of the Czech Republic



ISIN: CZ 0001001143



Coupon no. 1!, ISIN: CZ0000700562



Coupon no. 2, distracted, ISIN: CZ0000700570



Coupon no. 3, distracted, ISIN: CZ0000700588



Coupon no. 4, distracted, ISIN: CZ0000700596



# 5, coupon, ISIN: CZ0000700604



Coupon no 6, distracted, ISIN: CZ0000700612



Coupon No 7, distracted, ISIN: CZ0000700620



Coupon no 8, distracted, ISIN: CZ0000700638



Coupon No 9, distracted, ISIN: CZ0000700646



Coupon no. 10, distracted, ISIN: CZ0000700653



Principal, detached, ISIN: CZ0000700554.



2. Bonds are issued pursuant to section 1 of Act No. 122/2003 Coll., on the State

the bond program to cover debt securities due in

between 2003 and 2004, § 1 of the law No. 5/2005 Coll., on the State bond

program to cover part of the losses of the Czech consolidation agency, arising from the

picking out the non-performing assets from 1991 to 2003, § 1 of the law No.

313/2004 Coll., on the State bond program to pay part

the budgeted deficit of the State budget of the Czech Republic for the year 2004 and

on the amendment of Act No. 356/2003 SB., on the Excise Tax Act, as amended by law

No 479/2003 Coll.



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 Bonds yield fixed interest rate of EUR 3.80% p. a.

Interest income is paid once a year, and always to 11. April

of the relevant year. If payday falls on a yield

still, the payment of the first following working day without

the yield for the transferring.



6. 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 12. March. Interest income always receives

investor, which is the owner of the bond 11. March of each year.

Interest income for the first year will receive the investor that owns

Bond 11. March 2006.



7. the issuer shall submit a proposal for the registration of the bonds on the primary market of the stock exchange

securities Prague, and transferability of bond Centre

securities begins on the date of crediting of the bonds on the accounts first

owners. On the last day there will be transfers of securities

on accounts of owners of securities Centre is 11. March 2015.



8. calculation of aliquot interest rate is based on one year of 360 days

and 12 30-day months (BCK-standard 30E/360). Pipette an aliquot part

interest income is added to the price of a bond calculated from the date of issue.



9. Bonds to be issued after each of the sections (tranches).

Primary sale will be made in the form of American auction organized by the Czech

National Bank for a group of actors. Other investors may

participate in auctions through direct participants. Auction 1. tranche is

place 6 November. April 2005. Notice of the auction and the list of direct

the participants will be published in advance. The primary sale of other tranches will

carried out under the same conditions. The emission limit shall expire on 11. March 2014.



10. The total volume of bond issue is 54 000 000 000 CZK.

Bonds may be issued in a small or large volume in accordance with §

11 (1) 1 of law No 197/2004 Coll. on bonds, to the extent that the

conform to the trend and structure of financing the deficit of the State budget.

Issuing volume can be increased to a maximum of 65 000 000 000 CZK.



11. The valid assessment of financial eligibility (rating) of long-term

on CZK-denominated liabilities was carried out and published by Standard &

Poor's and A-level.



12. The Department of Justice on the yield of a bond, according to section 18 of Act No 190/2004

Coll. on bonds, is made possible.



13. 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 on the day 11. April 2015. That date also ends the remuneration

bonds. The nominal value of the bond and the last interest income will be

paid to the investor, which is the owner of the bond on 11 July. March

2015. If the day falls in the repayment of principal on a non-working day, it will be

the payment of the first following working day without the right to return for

This postponement of the payment.



14. all the rights attaching to the bonds and coupons are issued to them

barred the expiry of 10 years from the date on which it could be invoked for the first time

(section 42 of Act No. 190/2004 Coll. on bonds).



15. 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. Payment instead shall publish the manner in which payment of the

the coupon and the repayment of the nominal value of the executed.



16. 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.



17. 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 on the website

The Ministry of finance.



18. these terms and conditions may be translated into foreign languages. If there is a

a conflict between the various language versions, the issue conditions

Czech version.



Minister:



Mgr. Sobotka in r.

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