Kazakhstan Earns 31 billion KZT through Securities
Photo: Elements.envato.com
The Ministry of Finance of the Republic of Kazakhstan has raised over 31 billion tenge by placing treasury bonds on the Kazakhstan Stock Exchange (KASE). The Ministry of Finance's securities yield is 12.85% per annum, Orda.kz reports.
According to KASE, treasury bond trading began on October 15, and all bond placement transactions were closed on October 17. The Ministry of Finance earned slightly more than 31 billion 298.9 million tenge in funds. Demand for securities exceeded supply by 2.6x.
Banks were the main buyers (they bought 58.1% of the securities). Other legal entities received 38% of the treasury bonds. The bonds will mature in about five years.
According to the stock exchange, the total volume of treasury bonds that the Ministry of Finance has already placed on the stock market currently amounts to 443 billion tenge.
The Ministry of Finance is actively placing securities on the stock exchange. One reason is to raise funds to cover the budget deficit. In early October, reports surfaced that Kazakhstan placed Eurobonds worth one and a half billion dollars for the first time in nine years. The placement resulted in record-high interest from investors.
Original Author: Nikita Drobny
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