The Ministry of Finance of Kazakhstan raised KZT43.9 bn by offering MEUKAM

The Ministry of Finance of Kazakhstan raised KZT43.9 bn by offering MEUKAM

The Ministry of Finance of Kazakhstan raised KZT43.9 bn on KASE selling third issue of MEUKAM-168 (KZKDKY140033) with yield to maturity of 8.45 % APR on July 23, 2018.

The demand for bonds exceeded supply by more than twofold. The Kazakh Ministry of Finance planned to offer MEUKAM for the amount of KZT20 bn. As a result, the volume of placement on KASE amounted to KZT48.884 bn.

Face value of the security made up KZT1,000, circulation term is 14 years, coupon is paid once a year.

Institutional investors accounted for 93.2 % and other legal entities for 6.8% of the total volume of active orders.

According to Central Securities Depository, orders submitted were fully executed.