Kazakhstan's Unified Accumulative Pension Fund sells part of Azerbaijan's government bonds
By Trend
The Unified Accumulative Pension Fund (UAPF) of Kazakhstan has sold part of the government bonds of Azerbaijan that were in its investment portfolio, Trend reports referring to the report of the fund, published in late March.
In February, a deal was concluded on the sale of state bonds of Azerbaijan for $4.47 million (1.68 billion tenges).
In September 2017, the UAPF exchanged the bonds of the International Bank of Azerbaijan, that were in its investment portfolio, for government bonds of the country.
The exchange took place as part of the restructuring of the foreign obligations of the International Bank of Azerbaijan related to the preparation for the privatization of its shares.
In September 2017, at the time of the transaction, the total value of government bonds of Azerbaijan, acquired by the UAPF, was about 341 million manats (almost 75.97 billion tenges).
By February 1, 2019, their total value exceeded $380 million (85.3 billion tenges).
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