ASIAN DEVELOPMENT BANK PLACED GREEN INTERNATIONAL BONDS XS2251962903 (ASDBe4) AT 10.10 % AND RAISED KZT10.1 BN ON KASE THROUGH SUBSCRIPTION
19.11.20 23:48
/KASE, November 19, 2020/ – As announced earlier, on November 13, 2020 an
initial offering of green international bonds XS2251962903 (ASDBe4, KZT1, up
to KZT10,097,018,000, November 19, 2020 – January 22, 2023, actual/360) of
Asian Development Bank was conducted in the trading module "Subscription"
of Kazakhstan Stock Exchange (KASE) trough subscription.
Tengri Partners Investment Banking (Kazakhstan) based in Almaty acted as the
Seller during the subscription to these bonds.
Orders for the subscription were collected on November 13, 2020 from 09:30 to
11:00 o'clock Almaty time.
The nominal volume of bonds offered was up to KZT10,097,018,000
(10,097,018,000 pieces with a face value of KZT1). 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.
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 16 limit orders for purchase of bonds in the face value of KZT
25,121,018,000 were submitted to the trading system, of which 12 orders with a
face value of KZT18,121,018,000 were acknowledged as active as at the end of
the order collection. The yield to maturity in active orders submitted varied
from 10.05 to 10.22 % APR. The weighted average yield to maturity made up
10.12% APR. Total subscription bid reached KZT18,121,018,000, which made up
179.5 % to the ask.
In the total amount of active orders, second-tier banks (STB) accounted for 30.4
%, other institutional investors – for 41.5 %, other legal entities – 28.1 %.
A total of 7 orders in the total amount of KZT10,097,018,000.0 were executed.
The Issuer placed 10,097,018,000 bonds determining the yield to maturity at
10.10 %.
According to the Central Securities Depository based in 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 24.8 %, in
terms of amounts raised, were bought by STBs, 25.0 % by institutional investors,
50.2 % by other legal entities.
[2020-11-19]