New Issue: Kazakhstan's Nurbank sells KZT 3 billion of 7% bonds to yield 8%

By Marisa Wong

Madison, Wis., April 17 - JSC Nurbank sold KZT 3 billion of 7% bonds due 2016 on the Kazakhstan Stock Exchange on Wednesday, raising KZT 2.96 billion.

The cut-off price for the bonds was fixed at 97.1511, corresponding to a yield to maturity of 8%.

Net prices on submitted orders ranged from 94.1511 to 97.1600, and yields ranged from 7.9968 to 9%.

The Almaty, Kazakhstan-based bank registered to issue KZT 16 billion of bonds in July 2010 and had planned to place KZT 3 billion at Wednesday's session.

Issuer:	JSC Nurbank
Issue:	Bonds
Amount:	KZT 3 billion
Proceeds:	KZT 2,961,783,098
Maturity:	July 26, 2016
Coupon:	7%, payable semiannually
Cut-off price:	97.1511
Yield:	8%
Trade date:	April 17

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