Sberbank's Kazakhstan subsidiary places no 9% bonds at Friday session

By Marisa Wong

Madison, Wis., April 22 - Subsidiary Bank Sberbank of Russia held a special trading session on the Kazakhstan Stock Exchange to place KZT 1,095,800,000 of 9% bonds due 2017. No bonds were placed at the trading session held on Friday due to unfavorable prices on submitted orders.

The size of the planned placement represented 21.9% of the total principal amount of bonds the bank is authorized to issue.

Based in Almaty, Kazakhstan, the issuer is a wholly owned subsidiary of Moscow's Sberbank.

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