Eurasian Development Bank Acquires US$ 60 Million Worth of JSC KazTransGaz International Bonds
Almaty, September 26, 2017. The Eurasian Development Bank (EDB) has become the largest investor to take part in the primary issuance of JSC KazTransGaz 10-year international bonds at the Kazakh Stock Exchange (KASE). The EDB accounts for 76.92% (US$ 60 million) of all closed bids for JSC KazMunaiGaz bonds received by KASE.
The total value of the issue is US$ 750 million. Investors placing their bids via the KASE trading system have been allocated bonds with an aggregate principal of US$ 78 million (or 10.4% of the total value of the issue). The total value of investor bids placed via KASE exceeds US$ 100 million. The cut-off YTM has been set at 4.40%.
JSC SkyBridge Invest acted as the Kazakh lead manager responsible for arranging the issuance of JSC KazTransGaz international bonds.
Commenting on the deal, Dmitry Ladikov-Roev, EDB Managing Director, ALM, said: "It was important for us to have taken part in the issuance of Eurobonds through the KASE trading platform, and thereby support the burgeoning financial market of Kazakhstan. In addition to that, our involvement in the deal is fully consistent with the EDB's mission to promote development of the economies of its member states, as this Eurobonds issue will promote development of the real sector of the Kazakh economy."
Additional Information:
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and expansion of their mutual trade and economic ties. The charter capital of the EDB is US$ 7 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.
JSC KazTransGaz (Fitch Ratings: BBB-; Standard & Poor's: BB; Moody's Investors Services: Baa3) is the largest gas production and transportation company of the Republic of Kazakhstan which represents state interests both in the domestic and foreign gas markets. The company manages the central infrastructure for the transportation of commercial gas through trunk gas pipelines and gas distribution networks, supports international transit operations, sells gas in the domestic and foreign markets, designs, finances, builds and operates pipelines and gas storage facilities. JSC Oil Company KazMunaiGaz is the sole shareholder of JSC KazTransGaz.
JSC Skybridge Invest is a successful investment company with an extensive operating track record in the Kazakh securities market. SBI offers a wide range of asset management, brokerage, financial consulting and underwriting, and corporate financing services. It has won a number of prestigious industry awards, including Best New Capital Markets Consultancy Kazakhstan 2015 (Global Banking and Finance Review Awards 2015), and Best Investment Management Company, Kazakhstan (World Finance Awards 2012).
EDB Media Center:
+7 (727) 244 40 44 ext. 6147 (Almaty)
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e-mail: pressa@eabr.org