Sberbank of Russia (Kazakhstan) issues add'l 2.2 bln tenge in five-year bonds on KASE
ALMATY. Aug 14 (Interfax) - Subsidiary Bank Sberbank of Russia (Kazakhstan) has floated additional 2.2 billion five-year unsecured bonds at 7% per annum, the Kazakhstan Stock Exchange (KASE) said in a press release.
The bank raised 2,160,988,818 tenge through the issue.
It planned to offer 2 billion bonds, or 10% of its registered bonds worth 20 billion tenge, at one tenge per bond with a maturity period of five years.
This was the second issue under the bank's second bond program, which was registered with the State Financial Supervision Committee on June 23, 2011. The value of the program is 100 billion tenge.
The issue was 13% oversubscribed, and the bank set the cut-off price at 97.1978% of face value. Pension market players purchased 90.7% of the offered bonds, and brokers bought 9.3%.
Earlier, Subsidiary Bank Sberbank of Russia (Kazakhstan) raised 5,664,983,395 tenge through the issue of 5.662 billion bonds at 7% per annum.
According to the State Financial Supervision Committee of the National Bank of Kazakhstan, Subsidiary Bank Sberbank of Russia (Kazakhstan) was ranked sixth by assets in 2012 among the 38 second-tier banks operating in the country.
The official exchange rate on August 14 was 153.09 tenge/$1.
