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Kazakhstan's Doszhan buys back portion of infrastructure bonds
By Marisa Wong
Madison, Wis., Oct. 29 - JSC Doszhan Temir Zholy said it repurchased KZT 1 billion principal amount of its KZT 30 billion infrastructure bonds due 2028 at a special trading session held on the Kazakhstan Stock Exchange on Oct. 29.
The company had announced on Oct. 17 that it planned to buy back KZT 3.89 million principal amount of infrastructure bonds, or 13% of the total amount of bonds issued, at Monday's auction.
Active orders were received for KZT 6.5 billion of the bonds. Net prices on submitted orders ranged from 65 to 85, corresponding to yields of 9.9% and 7%, respectively.
The company set the cut-off price at 65, with a yield to maturity of 9.9%, purchasing 1 million of the bonds for KZT 663.17 million.
Doszhan Temir Zholy constructs and operates railway lines and is based in Almaty, Kazakhstan.
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