Kazakhstan sells no additional 3.3% bonds due 2016 at Monday auction

By Marisa Wong

Madison, Wis., Oct. 28 - The Kazakhstan Finance Ministry said it auctioned no additional 3.3% mid-term treasury bonds (Meokam-60, 37th issue) at a special trading session held on Monday due to unfavorable prices.

The issuer had intended to place a KZT 23 billion add-on to the KZT 14 billion of existing 3.3% bonds due March 10, 2016. The initial tranche settled on Nov. 10, 2011.

The issuer received active orders for KZT 5.69 billion of bonds at Monday's session.

The net price on submitted orders ranged from 94.1198 to 96.2456, and yields ranged from 5% to 6%.

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