EDB places bonds in Kazakhstan

Almaty, 28 December 2012. Today Eurasian Development Bank (EDB) placed its tenge bonds (KZP01Y05E384) in Kazakhstan to the tune of KZT 9.9 billion. The bonds have a coupon rate of 6.25% p.a. and mature in 2017. They were placed through a special auction at the Kazakhstan Stock Exchange (KASE). Moody’s assigned an A3 rating to this issue.

Dmitry Krasilnikov, Member of the EDB Management Board and Managing Director for Corporate Finance, says, «We deem the results of this placement to be very successful for the Bank and are quite satisfied with the number of bids we received from those forward-looking investors who decided to purchase EDB’s bonds at the special auction. The yield spread of the cut-off price over Kazakhstan’s sovereign curve is about 75 bps, which is the minimum among EDB’s bond issues.»

The proceeds from this placement will be used to finance the Bank’s investment projects in Kazakhstan.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.