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by September 27, 2019 Legal

Nominal value of 500 million US dollars with a coupon of 7 years and 0,6% coupon rate. in the amount of Euro and two tranches of a nominal value of 650 million euros with a maturity of 15 years and a coupon rate of 1.5 percent,

The cost of Kazakhstan’s Eurobonds borrowing has been at a record low level both in the republic and in the CIS region. For example, the 7-year Eurobond coupon is a low interest rate coupon of up to 0.6%, previously formed by developing countries within the BBB rating.

At the same time, the yield of the two tranches is one of the few other developing countries with a high credit rating, indicating negative rewards for the current euro currency curve of the Republic of Kazakhstan, which confirms the high trust and interest of international investors in Kazakhstan.

According to the press service of the Ministry of Finance of the Republic of Kazakhstan, tranche was the longest issue denominated in the CIS, formerly issued by the issuers in the CIS.

This deal has allowed diversifying the investor base by attracting traditionally Euro-focused investors to the Republic of Kazakhstan. By means of a 15-year turnover tranche, Kazakhstan has prolonged the curve of profitability and strengthened its reputation in the international capital market.

Before the release, London hosted a two-day road show of delegations consisting of finance, national economy ministries, the National Bank and the international financial center “Astana”.

On September 25, there was a prize, resulting in a book of applications with a total of 2.8 billion euros with the participation of 110 qualified investors.

Eurobonds are available on the London Stock Exchange and at the international financial center “Astana”.

At the same time, there are two tranches in the total amount of 192 million euros, 17% of the total Eurobond placement at the International Financial Center “Astana”.

The international organizers of the deal were Citi and Societe Generale as joint managers and bookmakers, UBS as joint managers and the first Kazakhstani organizer – First Heartland Securities (FHS).

Source: Kazakhtan 2050