INTERNATIONAL FINANCE CORPORATION RAISES KZT9.5 BN THROUGH SUBSCRIPTION ON KASE, BY PLACING TWO-YEAR INTERNATIONAL BONDS XS2069962343 (IFC_K281021) AT 9.5 % APR
/KASE, October 28, 2019/ – As announced earlier, an initial offering of
international bonds XS2069962343 (IFC_K281021, KZT1, up to KZT15,000,000,000,
28.10.19 – 28.10.21, actual/ actual) of International Finance Corporation (IFC)
was held in the "Subscription" module of the trading system of Kazakhstan Stock
Exchange (KASE) on October 22, 2019 by way of subscription to them.
Tengri Partners Investment Banking (Kazakhstan) acted as the seller during the
subscription to said bonds.
Orders for the subscription were collected on October 22, 2019 from 11:00 to
16:30 o'clock Almaty time (ALT).
The nominal amount of bonds offered was up to KZT15,000,000,000. Limit and
market orders submitted to KASE trading system by the closed method were
accepted during the subscription. Market order execution rate – 30 %.
As the price an order indicated the yield to maturity denominated in annual
percentage with accuracy of up to the second decimal place. In case of market
orders, the yield at market was indicated as the price. The number of financial
instruments in an order was represented by the nominal volume in tenge. The
subscription conditions contained no restrictions on buyers with regard to the
maximum number of bonds in orders submitted.
A total of 5 limit orders for purchase of bonds in the face value of
KZT9,500,000,000 were submitted to the trading system, with orders acknowledged
as active as at the end of the order collection. The yield to maturity in active
orders submitted made up 9.5 %. The total demand during the subscription reached
KZT9,500,000,000, which made up 63.3 % of the offering amount.
In the total amount of active orders institutional investors accounted for
15.8 %, other legal entities – for 84.2 %.
A total of five orders in the amount of KZT9,500,000,000.0 were executed. The
Issuer placed 9,500,000,000 bonds determining the yield to maturity at 9.5 %.
According to the Central Securities Depository (Almaty), all deals based on
results of the subscription to said bonds were settled by the moment of release
of this information, the subscription was completed.