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Kazakhstan places no add-on treasury bonds at Tuesday auction
By Marisa Wong
Madison, Wis., Dec. 11 - 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 Dec. 11 due to unfavorable prices on submitted orders.
The issuer had intended to place a KZT 5 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 20.86 billion of bonds. The net prices on submitted orders ranged from 84.7803 to 91.9898, and yields ranged from 6½% to 7.7%.
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