September 28 special trading session to buy back bonds KZ2CKY23B672 (KZ2C00000701, DTJLb1) of Doszhan Temir Zholy (DTZ) (Kazakhstan) announced failed

/KASE, September 28, 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 trades the issuer planned to buy back 4,150,000 infrastructural bonds KZ2CKY23B672 (14.0 % 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 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. Seven KASE members took part in the trading, submitting 16 orders, of which 14 orders for sale of 17,589,390 bonds remained active at the moment of closing of the orders submission period. Thus, the ask at trades exceeded 4.2 times the bid. The "net" prices of submitted active orders varied from 66.0000 % (9.7 % APR) to 100.00 % (5.4 % APR), having made a weighted average of 87.0479 % (6.8 % APR to maturity for a buyer). In the total volume of active orders pension market entities accounted for 92.2 %, Kazakhstan second tier banks - 5.7 %, clients of brokerage and dealer companies - 2.1 %, Having considered the summary list of submitted orders, the issuer refused to satisfy them as proposed prices turned out to be higher than expected. The special trades have been announced failed. In the nearest future the issuer intends to announce a new special trading session for buyback of these bonds. [2012-09-28]