ASIAN DEVELOPMENT BANK (ADB) ACQUIRED FUNDS OF KZT10.0 BN BUILDING THE BOOK TWISE HIGHER THAN THE REQUESTED AMOUNT UNDER THE SUPERVISION OF TENGRI PARTNERS

ASIAN DEVELOPMENT BANK (ADB) ACQUIRED FUNDS OF KZT10.0 BN BUILDING THE BOOK TWISE HIGHER THAN THE REQUESTED AMOUNT UNDER THE SUPERVISION OF TENGRI PARTNERS

Tengri Partners IB are happy to announce that on Friday, June 17, there has been conducted another placement that ended up with success for the issuer by providing the demand of two times requested volume. At the end of the auction yield to maturity formed at 14% which is equal to the to the yield of Ministry of Finance bonds with similar maturity.

This placement of ADB securities is a vivid example of how professional and joint work of the underwriter can lead to the full provision of all needed liquidity to the issuer under the best conditions and with the limited funding resources.

Thus, there were 11 bid offers for ADB securities during the trading session, where 50% of the volume have been covered by banks, legal entities and institutional investors grabbed 25% each. Due to the negative spread to the sovereign securities this placement of ADB securities serves as a benchmarking placement not just from the high credit reliability of the issuer point of view, but from the side of high-quality performance of underwriter.