Kazakhstan
Bonds of the Ministry of Finance of the Republic of Kazakhstan.
Last week, the Ministry of Finance of the Republic of Kazakhstan placed three bond issues for a total of KZT7.3bn (KZT29.1bn in the previous week). 7-year bonds were placed at the rate of 10.48%. Short-term bond rates increased by 10 bps. 11-year government securities of the Ministry of Finance of the Republic of Kazakhstan showed the least demand (demand to supply 15.7%), while their yield decreased by 9 bps.
Notes of the National Bank of the Republic of Kazakhstan. On June 28, an auction was held on the placement of NBK notes with a circulation period of 28 days for a total amount of KZT314bn with a yield of 8.995%. In addition, on July 2, another auction was held for a total amount of KZT327.3bn with a circulation period of 28 days and a yield of 8.999%.
The weekly net borrowing balance of the Ministry of Finance of Kazakhstan and the National Bank of Kazakhstan on the government securities market amounted to minus T295 billion, while the net borrowing balance of the National Bank of Kazakhstan as the end of the week amounted to minus T229 billion.
On July 2, KASE held specialized trading session on the placement of bonds of Kazakhstan Stability Fund JSC (KFU) with a maturity of one year, in the amount of KZT7.5bn and with a yield to maturity of 9.74% per annum. The yield on this issue decreased by 5 bps in comparison with the previous similar issue. The active orders amounted to KZT21.1 billion. The demand for this placement exceeded the supply by 2.1 times. Commercial banks bought 80% of the issue. In addition, on the same day, trading session was held on another KFU placement of KZT9.9bn for 3 years, with a yield to maturity of 10.09%. The yield increased by 4 bp compared to the previous similar issue. The active orders amounted to KZT9.97bn. Demand to supply amounted to 101.2%.
