Kazakhstan
Bonds of the Ministry of Finance of the Republic of Kazakhstan. Last week, the Ministry of Finance of the Republic of Kazakhstan placed two bond issues for a total of KZT53.7bn (KZT12.5bn in the previous week). The yield with a maturity of 2.8 years in the volume of KZT5.1 bn was formed at the level of 9.41%. The yield on annual bonds was amounted to 9.25% with the volume of placement of KZT48.6 bn. Demand amounted to 115% and 30% of the volume of placement, respectively.
The demand for government debt remains very high for up to one year; nevertheless, the rate of return on such bonds increased by 26 bps from the end of February this year.
Notes of the National Bank. The National Bank did not hold auctions of notes due to the short working week. The updated statistics showed that the volume of the National Bank's notes held by non-residents increased from T523bn to T563bn. However, it remains below the previous maximum value of T600bn reached at the end of February this year. The share of non-residents' ownership of the National Bank's notes is 15.36%.
Corporate bonds
JSC NC "Food Contract Corporation" placed at KASE 5-year bonds denominated in Russian rubles in the amount of 1.75 billion rubles. The yield on the issue of 8.99% corresponds to a spread of +240 bps to the rate of the Government Securities of the Russian Federation for the corresponding period.
