Kazakhstan Returned To Eurobond Market After Almost 10 Years
Date
10/4/2024 3:11:24 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
Kazakhstan returned to the Eurobond market for the first time
since 2015, placing an issue worth 1.5 billion US dollars for a
period of 10 years with a coupon rate of 4.714%,
Azernews reports.
The Eurobonds are listed on the London stock exchange and the
Astana International financial Center Exchange. Citi, JPMorgan,
Societe Generale acted as international organizers, joint lead
managers and bookrunners of the transaction, and BCC Invest JSC
acted as the Kazakh organizer.
“The deal was preceded by a one-day virtual roadshow, which is
available only to states with a high investment rating. The total
order book showed steady growth, reaching almost 6 billion US
dollars, which allowed the coupon rate and yield to be set at
4.714%, with a premium to US Treasury bonds of 88 basis points,"
the report says.
The agency notes that this issue of Eurobonds will strengthen
the country's financial stability and support its economic
growth.
“In addition, favorable placement conditions will create a
benchmark for entry into the international capital markets of other
issuers from Kazakhstan, both quasi-governmental and corporate,”
the information says.
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