By Marisa Wong
Morgantown, W.Va., Oct. 29 – National Co. Food Contract Corp. JSC sold KZT 10 billion of 7½% bonds due 2018 at a special trading session held on Wednesday, according to a Kazakhstan Stock Exchange announcement.
The net price for the bonds was 97.0020, corresponding to a yield of 8.61%.
The amount of orders accepted represents 91% of the issuer’s planned placement of KZT 11 billion of bonds.
The issuer had registered to issue up to KZT 40 billion of the 7½% bonds in December 2011. There is currently KZT 23.29 billion of the bonds outstanding.
The company manages Kazakhstan’s grain resources and is based in Astana.
Issuer: | National Co. Food Contract Corp. JSC
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Issue: | Bonds
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Amount: | KZT 10 billion
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Maturity: | Dec. 12, 2018
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Coupon: | 7½%
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Net price: | 97.0020
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Yield: | 8.61%
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Trade date: | Oct. 28
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