ASIAN DEVELOPMENT BANK RAISES KZT8.4 BN ON KASE THROUGH SUBSCRIPTION, BY PLACING INTERNATIONAL BONDS XS2294363416 (ASDBe6) AT 10.15 %
15.02.21 11:29
/KASE, February 15, 2021/ – As announced earlier, an initial offering of
international bonds XS2294363416 (ASDBe6, KZT1, KZT8,400,000,000,
15.02.21 – 17.12.30, 30/360) of Asian Development Bank was conducted on
Kazakhstan Stock Exchange (KASE) in the module "Subscription" of the trading
system on February 9, 2021 by way of subscription to them.
Tengri Partners Investment Banking (Kazakhstan) JSC (Almaty) acted as the
seller during the subscription to the said bonds.
Orders for the subscription were collected on February 9, 2021 from 09:30 to
11:00 o'clock (Almaty time).
The nominal amount of bonds offered was up to KZT8,400,000,000 (up to
8,400,000,000 pieces with face value of KZT1). Limit and market orders
submitted to KASE's 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 was represented by the nominal volume in tenge. The
subscription conditions put no restrictions on buyers with regard to the
maximum number of bonds in orders submitted.
A total of ten limit orders were submitted to the trading system for purchase of
bonds with a nominal volume of KZT14,600,000,000, which at the end of the
order collection were recognized as active. The yield to maturity in the
submitted active orders varied in the range of 10.05–10.21 % per annum, the
weighted average yield to maturity was 10.16 % per annum. The total demand
during the subscription reached KZT14.6 bn, which made 173.8 % of the supply
volume.
In the total volume of active orders, institutional investors accounted for
42.5 %, and other legal entities – for 57.5 %.
Based on the results of the offering, six orders were satisfied for a total
amount of KZT8,400,000,000.0. The issuer has issued 8,400,000,000 bonds with a
yield to maturity of 10.15 %.
According to the Central Securities Depository JSC (Almaty), all deals based on
results of the subscription to said bonds were settled by the moment of release
of this information, the subscription is completed. At the same time, 23.8 %,
in terms of amounts raised, were purchased by institutional investors, 76.2 % –
by other legal entities.
[2021-02-15]