July 18 special trading session to buy back bonds KZ2CKY23B672 (KZ2C00000701, DTJLb1) of Doszhan Temir Zholy (DTZ) (Kazakhstan) announced as failed

/KASE, July 18, 12/ - A special trading session was held today in Kazakhstan Stock Exchange (KASE) trading system to buy back infrastructure bonds KZ2CKY23B672 (KZ2C00000701, KASE official list, second subcategory of Non- Rated Debt Securities category, DTJLb1; KZT1.000, KZT30.0 bn; August 2, 2005 - August 8, 2028; annual coupon indexed at inflation rate, 8.75 % APR for the current coupon period; 30/360) of JSC "Doszhan Temir Zholy (DTZ)" (Almaty). At the trades the issuer planned to buy back 3,863,000 infrastructural bonds KZ2CKY23B672 (13.1 % from the total number of offered bonds of this issue). The trades' subject was the bonds' "net" price (excluding interest accrued) expressed in percentage of the security face value accurate within the fourth decimal. Orders were submitted by the closed method from 11:30 to 13:00 o'clock Almaty time (ALT). Only limited orders were accepted to trades. The method of purchasing orders satisfaction - at prices of limited counter orders equal to the cut-off price or prices more favorable for a buyer. The settlements scheme - Т+0. Eight KASE members took part in the trading, submitting 12 orders, of which 11 orders for sale of 17,605,720 bonds remained active at the moment of closing of the orders submission period. Thus, the ask at trades made up 455.8 % of the bid. The "net" prices of submitted active orders varied from 67.00 % (14.0 % APR) to 100.00 % (8.8 % APR), having made a weighted average of 84.7676 % (10.8 % APR to maturity for a buyer). In the total volume of active orders pension market entities accounted for 93.2 %, Kazakhstan second-tier banks - 5.7 %, brokerage firms - 1.1 %, clients of brokerage and dealer companies - 0.001 %, Having considered the summary list of submitted orders, the issuer said they were refused acceptance as the proposed prices turned out to be higher than expected. The special trades have been announced as failed. [2012-07-18]