Published on 4/17/2013 in the Prospect News Emerging Markets Daily.
New Issue: Kazakhstan's Nurbank sells KZT 3 billion of 7% bonds to yield 8%
By Marisa Wong
Madison, Wis., April 17 - JSC Nurbank sold KZT 3 billion of 7% bonds due 2016 on the Kazakhstan Stock Exchange on Wednesday, raising KZT 2.96 billion.
The cut-off price for the bonds was fixed at 97.1511, corresponding to a yield to maturity of 8%.
Net prices on submitted orders ranged from 94.1511 to 97.1600, and yields ranged from 7.9968 to 9%.
The Almaty, Kazakhstan-based bank registered to issue KZT 16 billion of bonds in July 2010 and had planned to place KZT 3 billion at Wednesday's session.
Issuer: | JSC Nurbank
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Issue: | Bonds
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Amount: | KZT 3 billion
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Proceeds: | KZT 2,961,783,098
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Maturity: | July 26, 2016
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Coupon: | 7%, payable semiannually
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Cut-off price: | 97.1511
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Yield: | 8%
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Trade date: | April 17
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