Kazakhstan sells no additional 3.2% bonds due 2016 at Friday auction

By Marisa Wong

Madison, Wis., June 7 - The Kazakhstan Finance Ministry said it auctioned no additional 3.2% mid-term treasury bonds (Meokam-60, 38th issue) at a special trading session held on June 7 due to unsatisfactory prices on submitted orders.

The issuer had intended to place a KZT 15 billion add-on to the KZT 16.67 billion of existing 3.2% bonds due May 12, 2016.

The initial tranche of five-year treasury bonds settled on May 12, 2011.

In the latest auction, active orders were received for KZT 10.51 billion of bonds. The net prices on submitted orders ranged from 94.1721 to 96.9993, and yields ranged from 4.3% to 5.38%.

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