INTERNATIONAL FINANCE CORPORATION RAISES KZT13.0 BN THROUGH SUBSCRIPTION ON KASE, BY PLACING TWO-YEAR INTERNATIONAL BONDS XS2159908776 (IFC_K280422) AT 11.00 % APR
/KASE, April 28, 2020/ – As announced earlier, an initial offering of
international bonds XS2159908776 (IFC_K280422, KZT13.0 bn, KZT1, 28.04.20–28.04.22,
actual/ actual) of International Finance Corporation (IFC) was held in the
"Subscription" module of the trading system of Kazakhstan Stock Exchange (KASE)
on April 21, 2020 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 April 21, 2020 from 09:30 to 11:00
o'clock, Almaty time (ALT).
The nominal amount of bonds offered was up to KZT10,500,000,000.00. 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 13 limit orders for purchase of bonds in the face value of
KZT20,625.0 mln 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 varied from 10.90 to 11.00 % APR. The weighted average
yield to maturity made up 10.9753 % APR.
In the total amount of active orders, second-tier banks (STB) accounted for 37.0
%, other institutional investors – for 63.0 %.
A total of 10 orders in the total amount of KZT13,000,000,000.0 were executed.
The Issuer placed 13,000,000,000 bonds determining the yield to maturity at
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, whereby 43.3 %, in terms
of amounts raised, were bought by STB, 56.7 % – by other institutional
investors, the subscription is finished.