New Issue: Kazakhstan Engineering places KZT 1.77 billion 5% bonds to yield 7%

By Marisa Wong

Madison, Wis., April 29 - JSC National Co. Kazakhstan Engineering placed KZT 1.77 billion of 5% bonds due 2015 at a special trading session held on Monday, according to a Kazakhstan Stock Exchange announcement.

The issuer set the cut-off price at 95.4512, corresponding to a yield of 7%. Proceeds totaled KZT 1.73 billion.

The Astana, Kazakhstan-based company registered to issue KZT 15 billion of bonds on Nov. 6 and had planned to place KZT 1,896,000,100 at Monday's session.

Kazakhstan Engineering makes special-purpose products for law enforcement agencies in Kazakhstan, as well as oil and gas and rail equipment.

Issuer:	JSC National Co. Kazakhstan Engineering
Issue:	Bonds
Amount:	KZT 1,765,000,000
Proceeds:	KZT 1,727,122,708
Maturity:	Nov. 6, 2015
Coupon:	5%, payable semiannually
Price:	95.4512
Yield:	7%
Trade date:	April 29

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