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
- Tokayev Finishes Uzbekistan Trip With Focus on Trade and Environmental Cooperation
- Kashagan Operator Accused Of Stalling Sulfur Fine Pending Washington Arbitration
- Copper And Molybdenum Project Set To Launch In Abay Region
- Deputies Raise Alarm Over Chaos in Construction Licensing and Oversight
- Kazakhstan’s Tobacco Output Surges as Smoking Rate Holds Steady
- EAEU Waives Import Duties on Several Vegetables for Kazakhstan
- SpaceX Direct-to-Cell Service Still Awaiting Commercial Launch in Kazakhstan
- Kazakhstan To Require Near Real-Time Emissions Reporting From Enterprises
- Tokayev Says Elections to Kazakhstan’s New Parliament Will Be Held in August
- System Outage Leaves Foreigners Without IIN and Residence Permit Services in Kazakhstan
- Sowing 2026: What Kazakhstan Will Plant and How It Will Pay for It
- What Higher Foreign Labor Hiring Rates Could Mean for Kazakhstan
- First Soyuz-5 Launch From Baiterek Expected Soon
- Gas Went Up Despite A Tariff Freeze In Southern Kazakhstan
- Kazakhstan Expands Military Spending With A Focus On UAVs
- Who Is Now Protecting Investors In Kazakhstan
- No One Was Punished For LGBT Propaganda In Kazakhstan — Ministry Of Culture
- Can Kazakhstan Really Send Green Power To Europe Through The Black Sea?
- Why Kazakhstan’s Army Is Struggling To Win Over Young Recruits
- A New Transit Era May Cost Almaty Dozens Of Buildings
