EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT RAISES KZT60.0 BN THROUGH SUBSCRIPTION ON KASE BY PLACING EIGHT-YEAR INTERNATIONAL BONDS XS2214305737 (EBRDe11) AT 1 % MARGIN TO HALF-YEAR COUPON
/KASE, August 19, 2020/ – As announced earlier, an initial offering of international
bonds XS2214305737 (EBRDе11, KZT1, KZT60.0 bn, August 19, 2020 – August 19, 2028,
inflation rate-indexed semi-annual coupon: inflation+margin, actual/360) of the
European Bank for Reconstruction and Development was held on August 17, 2020 in
the trading module "Subscription" of Kazakhstan Stock Exchange (KASE) by way of
Tengri Partners Investment Banking (Kazakhstan) acted as the Seller during the
subscription to these bonds.
The nominal volume of bonds offered was up to 60,000,000,000 tenge (60,000,000
pieces with a face value of KZT1). A price in a bid stipulated the value of the
fixed margin to the semi-annual coupon rate as percentage of the face value of
the bond with accuracy of up to second decimal place. In the case of market bids,
the "market yield" was indicated as the price. The semi-annual coupon rate was
calculated in accordance with the inflation rate in Kazakhstan.
In the subscription terms no restrictions were put on buyers with regard to the
maximum number of bonds in orders submitted.
Four members of KASE took part in the subscription. A total of 39 limit orders
with a face value of KZT72.3 bn were submitted to the trading system. 38 orders
with a face value of KZT70.3 bn were acknowledged as active at the end of the
order collection. The rate of the margin to the semi-annual coupon made up 1 %
in orders submitted.
In the total volume of active orders institutional investors accounted for 91.0
%, other legal entities accounted for 9.0 %.
According to the results of the offering, the issuer executed 33 active orders,
thus placing the entire planned volume of KZT60,000,000,000.00. The rate of the
margin to the semi-annual coupon was fixed at 1 %.
According to the Central Securities Depository (Almaty), all deals were settled
by the end of the release of this information based on results of the
subscription; 89.5 % in terms of the raised volume, were purchased by
institutional investors, 10.5 % – by other legal entities; the subscription is