Kazakhstan's Ministry of Finance on October 14 placed 20.5 mln MEUKAM KZKD00001228 (MUM096_0014) on KASE at yield to maturity of 17.25 % APR
/KASE, October 14, 2025/ – Kazakhstan Stock Exchange (KASE) announces that two special trading sessions (for the offering and additional offering) of government long-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEUKAM) were held in KASE's trading system on October 14, 2025 on the terms below (Astana time).
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OFFERING TERMS
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Trade date: 14.10.25
Current maturity: 5.6 years (2,008 days)
Declared offering volume, mln KZT: 60,000,0
Trade subject: "clean" price
Market order execution ratio, %: from 0 to 100 depending
on market demand
Order submission method: closed
Order collection time: 09:00–12:00
Order confirmation time: 09:00–12:00
Cut-off date and time: 14.10.25, 15:00
Payment date: 16.10.25
Method of execution of limit offset orders: pro rata to amounts
of offset orders
Method of execution of limit orders: at prices of limit offset orders
equal to the cut-off price or
more favorable to the seller
Method of execution of market orders: at the single cut-off price
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From 15:30 to 16:00 o'clock, Astana time, the issuer planned to additionally place the indicated bonds for the amount of KZT 50,000.0 mln in KASE's trading system during a special trading session. The special trading session on additional offering was declared invalid due to the fact that at the end of the order collection period there were no active orders in KASE's trading and clearing system.
BID PARAMETERS AT OFFERING:
------------------------------------------------- -------------- Number of participants: 5 Number of orders submitted (all / active): 13 / 13 including: – limit: 11 / 11 – market: 2 / 2 Volume of active orders*, mln tenge: 48,279.3 including: – limit: 45,229.3 – market: 3,050.0 Bid to ask: 87.1 % "Clean" price on orders submitted, % APR (on all / active ones): – minimum 80.5511 – maximum 88.6501 – weighted average 86.4427 Yield on orders submitted, % APR (on all / active ones): – minimum 17.2500 – maximum 20.0000 – weighted average 17.9591 ---------------------------------------------------------------- * active orders – orders not annulled by trade participants at expiry of order submission period including those confirmed by Confirmation System participants.
Of the total volume of active orders, banks accounted for 94.6 %, other institutional investors – for 0.4 %, other legal entities – for 5.0 %.
OFFERING RESULTS:
-------------------------------------------------------------------- Volume of orders executed, bonds: 20,545,944 Volume of orders executed, tenge: 19,444,473,659.3 Number of orders executed: 3 Number of participants, whose orders were executed: 1 Volume of executed orders, % of plan: 34.2 Volume of executed orders, % of the bid: 39.3 "Clean" price in orders executed, % of face value: 88.6501 Yield on bonds to maturity for buyer, % APR: 17.2500 --------------------------------------------------------------------
In terms of the main categories of investors, 99.0 % of the total volume of the placement was purchased by banks, 1.0 % – by other institutional investors.
Taking into account the previously conducted placement, the total volume of MEUKAM KZKD00001228 (MUM096_0014) amounted to 394,119,760 bonds with a par value of 394,119,760,000 tenge.
Settlements on this offering will be carried out on October 16, 2025 (according to the T+2 scheme). MEKAM sold at today's auction will be admitted to circulation on KASE's secondary market under the trade code specified in the table on the next working day after the day of fulfillment of obligations under deals. The bonds must be quoted in KASE's trading system in clean prices.
The Rules of issue, placement, circulation, service and maturity of government treasury bonds of the Republic of Kazakhstan are available at see more
The Rules of placement of government treasury bonds of the Republic of Kazakhstan are available at see more
Detailed information on the issue of these bonds is available at see more
[2025-10-14]