New Issue: Kazakhstan Sustainability Fund sells KZT 16.43 billion more 8˝% bonds due 2022

By Marisa Wong

Los Angeles, Feb. 20 – Kazakhstan Sustainability Fund placed KZT 16,434,793,000 of additional 8˝% bonds due 2022 at a special trading session held on Thursday, according to a Kazakhstan Stock Exchange notice.

The bonds were sold at a “clean” price of 94.7741 to yield 10.7%.

The amount placed represents 109.6% of the company’s planned issuance of KZT 15 billion of bonds.

The 8˝% three-year bonds were originally issued by JSC Baspana Mortgage Organisation. The Almaty, Kazakhstan-based issuer had registered to issue up to KZT 30 billion of the bonds and sold an initial KZT 1,411,000,000 in December and an additional KZT 3,861,000,000 in January.

Baspana recently merged with and changed its name to Kazakhstan Sustainability Fund. As a result, the issuer for the 8˝% bonds due 2022 and five other bond issues were also changed to Kazakhstan Sustainability Fund, effective Feb. 14.

Issuer:	Kazakhstan Sustainability Fund (formerly JSC Baspana Mortgage Organisation)
Issue:	Bonds, add-on
Amount:	KZT 16,434,793,000
Maturity:	Dec. 26, 2022
Coupon:	8˝%
Price:	94.7741
Yield:	10.7%
Trade date:	Feb. 20
Settlement date:	Feb. 20
Total issuance:	KZT 21,706,793,000, including KZT 1,411,000,000 issued Dec. 26 and KZT 3,861,000,000 issued Jan. 30

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