Kazakhstan speeds up borrowing abroad: this time in Eurobond market

Kazakhstan's foreign trade turnover sees over $139 bn in 2023 — Daryo News

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.

Close-Up Look at Kazakhstan's Foreign Trade: China Becomes Top Trade  Partner, as Non-Commodity Exports to Asia Rise - The Astana Times

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.

Source :

azernews.az

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