INTERNATIONAL FINANCE CORPORATION RAISES KZT2.0 BN THROUGHT SUBSCRIPTION ON KASE, PLACING FOUR-YEAR GLOBAL AMORTIZED NOTES OF UNSECURED DEBT XS1876166973 (IFC_K180922) AT 8.3 % APR
/KASE, September 17, 2018/ – As announced earlier, an initial offering of global
amortized notes of unsecured debt XS1876166973 of the International Finance
Corporation (IFC) was conducted in Kazakhstan Stock Exchange (KASE, or the
Exchange) trading system on September 12, 2018 by way of subscription to them.
Tengri Capital MB acted as the seller during the subscription to said notes.
Notes with a nominal volume of KZT2,005,867,110 (2,005,867,110 pieces at
face value of KZT1) were offered. As the price an order indicated the yield to
maturity, expressed in annual percentage with accuracy of up to the second
decimal place. The number of financial instruments was represented by the
number of notes in pieces. The subscription conditions contained no restrictions
on buyers with regard to the maximum number of notes in orders submitted.
Two KASE members took part in the trading. Three limit orders were submitted to
the trading system for purchase of 3,100,000,000 notes, which were
acknowledged active by the end of order collection. The yield to maturity in
orders submitted varied from 8.30 to 8.33 % APR; the weighted average yield on
active orders made up 8.31 % APR. the total demand during the subscription
reached KZT3.1 bn and 1.5 times exceeded the supply.
Based on results of trading, the issuer fixed the cut-off price at 8.3 % APR and
executed two orders, hence placing the entire planned volume in the amount of
According to the Central Securities Depository (Almaty), all deals based on
results of the subscription to said notes were settled by the moment of release
of this information, the subscription was completed.