First Time in 9 Years: Kazakhstan to Issue Dollar Bonds
Photo: Elements.envato.com
For the first time since 2015, the Kazakh Ministry of Finance will issue Eurobonds worth 1.5 billion dollars. This will help attract additional funds to finance the budget deficit, Orda.kz reports.
According to the Astana International Exchange (AIX) website, book building, i.e., collection of bids for the purchase of securities for the new dollar bonds, will be on October 3 from 2:00 PM to 6:00 PM Astana time. The securities will be officially placed on the exchange on October 7-8.
The Ministry of Finance will issue 7,500 bonds worth $200,000 each with a coupon rate of 4.87%. Four international banks — BCC Invest, JP Morgan, Citibank, and Societé Generale CIB — will be involved.
On October 2, the ministry announced the issuance of Eurobonds. Kazakhstan's economic potential will initially be presented to global investors. The securities will later be priced, and the optimal parameters for the Eurobond issue will be determined. In October, the maturity of Kazakhstan's prior $1.5 billion in bonds will approach.
Kazakhstan last issued Eurobonds in 2015. Protracted litigation with Moldovan businessmen Gabriel and Anatolie Stati prevented the country's return to the dollar bond market. Kazakhstan's assets worth $28 billion were frozen in 2017. After the "Stati case" ended with a settlement agreement in July 2024, Kazakhstan no longer has any obstacles to placing Eurobonds. Bloomberg reported that the country had plans to issue new dollar bonds in mid-August.
Original Author: Nikita Drobny
Latest news
- Nazarbayev-Linked Villa in Spain Agrees to Fund New Coastal Path
- Why Kazakhstan Is Restricting Foreign Goods in Public Procurement
- Kazakhstan Has the Lowest Level of Dependence on China in Central Asia
- Noise, Construction and Cameras: What Astana Residents Are Saying About the LRT Tests
- Marshrutka vs. Shuttle: Why Kazakhstan Is Reinventing the Main Public Transport of the 1990s
- Several Border Checkpoints With China to Close for One Day
- Laser Guidance Systems Begin Testing on Kazakhstan’s Highways
- Kazakhstan Plans Mandatory Labeling for Dietary Supplements and Jewelry
- Chinese Influencer Tao Mingxiu Receives Presidential Award in Kazakhstan
- Kazakhstan Ranks Sixth In the World By Agricultural Land Area
- Uzbekistan Breaks Regional Record In Public Debt Market
- “They Are Not Cattle, You Don’t Vaccinate Them”: Why Zoologists Cannot Save Caspian Seals
- Did The Digital Economy Stumble Over PPP? How The Minister Reacted to the IT Industry’s Problems
- Private Investors to Help Build Juvenile Correctional Facilities in Kazakhstan
- “Like Rotten Eggs”: Residents of Atyrau Again Complain About the Stench in the City
- Digital Passport and Admission Benefits: Kazakhstan Wants to Change Volunteering
- Infected Sunflower Seeds From the U.S. Barred From Entering Kazakhstan
- Almaty Drivers Offered Free Emissions Checks Without Penalties
- Croatia Will Finance Oil Exploration In Aktobe Region
- Half of Kazakhstanis Earn Less Than $1,000 a Month
