By Marisa Wong
Madison, Wis., April 1 - JSC Tsesnabank placed a total of KZT 537.8 million bonds at two separate trading sessions held on the Kazakhstan Stock Exchange on Monday, according to notices.
In the earlier session, Tsesnabank sold KZT 486 million principal amount of 8% bonds due 2018, raising KZT 475,744,536.
The 8% bonds are part of the fourth issue under the Astana, Kazakhstan-based bank's second bond program. The bank registered in December 2006 to issue a total of KZT 20 billion of bonds and was authorized in June 2011 to issue KZT 4.5 billion of the fourth issue bonds.
The cut-off price for the 8% bonds was fixed at 95.8676, corresponding to a yield to maturity of 9%.
Net prices on the KZT 696 million of total submitted orders ranged from 91.9103 to 95.8676, and yields ranged from 9% to 10.01%.
The size of the 8% bond issue was 100% of the issuer's planned placement.
In the later trading session, the bank sold KZT 51.8 million of inflation-linked bonds due 2014, raising KZT 51,324,562.
The inflation-linked bonds are part of the third issue under the bank's first bond program. The bank registered in January 2006 to issue a total of KZT 15 billion of bonds and was authorized in June 2006 to issue KZT 3 billion of the third issue bonds.
The cut-off price for the bonds was fixed at 97.4030, corresponding to a yield to maturity of 8.95%.
Net prices on the KZT 62.8 million of total submitted orders ranged from 94.6399 to 97.403, and yields ranged from 8.95% to 11½%.
The issuer had planned to place KZT 69,418,000 of the inflation-linked bonds.
According to a separate Kazakhstan Stock Exchange notice, a third special trading session was held to place KZT 500.8 million of 7½% bonds due 2027. No 7½% bonds were sold due to unsatisfactory orders.
| Issuer: | JSC Tsesnabank
|
| Issue: | Bonds
|
| Trade date: | April 1
|
|
|
| 8% bonds
|
| Amount: | KZT 486 million
|
| Proceeds: | KZT 475,744,536
|
| Maturity: | June 30, 2018
|
| Coupon: | 8%, payable semiannually
|
| Cut-off price: | 95.8676
|
| Yield: | 9%
|
|
|
| 8% bonds
|
| Amount: | KZT 51.8 million
|
| Proceeds: | KZT 51,324,562
|
| Maturity: | June 28, 2014
|
| Coupon: | Inflation rate, 6½% for current coupon period; payable semiannually
|
| Cut-off price: | 97.403
|
| Yield: | 8.95%
|
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