VTB's Kazakhstan subsidiary places no 7% bonds at April 19 auction

By Marisa Wong

Madison, Wis., April 22 - VTB Bank (Kazakhstan) JSC Subsidiary Organization held a special trading session on the Kazakhstan Stock Exchange to place KZT 2 billion of 7% bonds due 2014. No bonds were placed at the trading session held on Friday due to an insufficient number of orders.

The size of the planned placement represented 13.3% of the total principal amount of bonds the bank is authorized to issue.

Based in Astana, Kazakhstan, the issuer is a wholly owned subsidiary of Moscow-based OJSC VTB Bank.

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