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Kazakhstan places no add-on bonds due 2020 at Monday's second auction
By Marisa Wong
Madison, Wis., Nov. 27 - The Kazakhstan Finance Ministry said it auctioned no additional 5% long-term treasury bonds (Meukam-108, seventh issue) at a repeated special trading session held on Nov. 26 due to unfavorable prices on submitted orders.
As reported, the finance ministry held a special trading session for the same bonds earlier in the day on Monday, but no bonds were placed due to unfavorable prices.
At both sessions the issuer had intended to place a KZT 9 billion add-on to the KZT 20.2 billion of existing bonds due 2020.
Active orders were received for KZT 1.92 billion of bonds during the second trading session. The net prices on submitted orders ranged from 88.2703 to 92.5637, and yields ranged from 6.2% to 6.95%, unchanged from the first session.
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