The EDB purchases Samruk Energy’s bonds for a total of KZT 21.7 billion
Astana, 30 November 2018. The Eurasian Development Bank (EDB) purchased Samruk Energy’s bonds for a total of KZT 21,736,200,000 as a result of the initial offering at Kazakhstan Stock Exchange (KASE) of the third bond issue as part of Samruk Energy’s first bond programme worth up to KZT 100 billion, registered with the National Bank of Kazakhstan on 3 August 2017. The financial adviser and underwriter for the issue is Kazkommerts Securities.
The proceeds from the issue will finance Samruk Energy and its subsidiaries’ capital costs under the holding’s approved medium-term investment programme, including the modernisation of Shardara HPP, and refinance the issuer’s current payables and general corporate purposes.
“The project is being run in the energy sector, which is one of the EDB’s priorities, and aims to enhance the energy efficiency of generation facilities,” Vsevolod Smakov, Head of Project Block at the EDB, commented.
The funds will help Samruk Energy to restructure its balance sheet, and diversify and improve its credit portfolio by concentrating payables at the level of the parent company. These measures are intended to ensure the achievement by Samruk Energy of its strategic objectives. The transaction is a confirmation of mutually beneficial cooperation between the EDB and Samruk Energy.
Additional Information:
The Eurasian Development Bank (EDB) 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. The EDB's charter capital totals 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.
The EDB Media Centre:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)