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Kazakhstan places no add-on treasury bonds at Wednesday auction
By Marisa Wong
Madison, Wis., Nov. 28 - The Kazakhstan Finance Ministry said it auctioned no additional 5.3% long-term treasury bonds (Meukam-120, 10th issue) at a special trading session held on Nov. 28 due to unfavorable prices on submitted orders.
The issuer had intended to place a KZT 7 billion add-on to the KZT 28.22 billion of existing 5.3% long-term treasury bonds.
The initial KZT 9.83 billion of 10-year bonds settled on Dec. 21, 2011, an additional KZT 16 billion settled on Jan. 18, 2012, another KZT 333.33 million settled on Nov. 15, and most recently a KZT 2.06 billion tranche settled on Nov. 21.
In the latest auction, active orders were received for KZT 3.26 billion of bonds. The net prices on submitted orders ranged from 83.0383 to 93.8894, and yields ranged from 6.2% to 8%.
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