Kazakhstan's Doszhan buys back portion of infrastructure bonds

By Marisa Wong

Madison, Wis., Nov. 13 - JSC Doszhan Temir Zholy said it repurchased KZT 4,251,000,000 principal amount of its KZT 30 billion infrastructure bonds due 2028 at a special trading session held on the Kazakhstan Stock Exchange on Nov. 12.

The company previously announced that it planned to buy back KZT 3.23 billion principal amount of infrastructure bonds, or 11.5% of the total amount of bonds issued, at Monday's auction.

Active orders were received for KZT 6.5 billion of the bonds. Net prices on submitted orders ranged from 64.9999 to 100, corresponding to yields of 9.9% and 5.4%, respectively.

The company set the cut-off price at 65, with a yield to maturity of 9.9%, purchasing 4,251,000 of the bonds for KZT 2.83 billion.

Doszhan Temir Zholy constructs and operates railway lines and is based in Almaty, Kazakhstan.

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