AsiaCredit Bank (Kazakhstan) on May 27 sold 800.0 mln bonds KZP01Y07D887 (KZ2C00001766, LARIb2) on KASE at 8.5 % APR

/KASE, May 27, 13/ – A special trading session to offer bonds KZP01Y07D887 (KZ2C00001766, KASE official list, Rated Debt Securities category, LARIb2; KZT1, KZT10.0 bn; July 16, 2012 – July 16, 2019, semi-annual coupon 8.00 % APR, 30/360) of JSC "AsiaCredit Bank" (Almaty) was held today in Kazakhstan Stock Exchange (KASE) trading system JSC "ASYL-INVEST" (Almaty) acted as seller at the special trading session. The declared volume of placement was equal to 1,000,000,000 bonds KZP01Y07D887 (10 % of the total number of registered bonds). As the price an order would indicate the bonds' "net" price (excluding interest accrued) expressed as percentage of the security’s face value accurate within the fourth decimal. Orders were submitted to KASE trading system from 11:30 to 15:00 (Almaty time) (ALT) by the closed method. Only limited orders were accepted. The method of acceptance of orders for purchase – at the cut-off price. Settlement scheme – Т+0. Three KASE members took part in the trading, submitting three orders of which two orders for purchase of 802,600,000 bonds remained active at the end of orders submission period. Hence, the bid to ask made up 80.3 %. The "net" prices in orders were at levels 95.3452 % (9.00 % per annum), 97.1682 % (8.60 % per annum) and 97.6306 % (8.50 % per annum), making on weighted average 97.6234 % (8.5016 % APR yield to maturity for buyer). The entire volume of active orders came from clients of brokerage firms. Upon results of the trading the issuer fixed the cut-off price at 97.6306 % which corresponds with the yield to maturity for buyer of 8.50 % APR, and satisfied one order submitted by a pension market entity, thus selling 800,000,000 bonds. KZT804,333,688.89 were raised as a result. [2013-05-27]