The EDB takes part in KEGOC’s investment programme and buys bonds for over KZT 8 billion
Nur-Sultan, 28 May 2020. The Eurasian Development Bank (EDB) purchased bonds of the Kazakhstan Electricity Grid Operating Company (KEGOC) for more than KZT 8 billion.
The securities, with a maturity of 15 years, were purchased as part of KEGOC’s initial offering at the Kazakhstan Stock Exchange (KASE) of the first issue of its bonds included the issuer’s second bond programme totalling KZT 80 billion.
The funds raised through the offering are intended to finance the reconstruction of 220-500 kV overhead power transmission lines operated by KEGOC’s branches, the development of electrical grids in the Western zone of the Unified Power System of Kazakhstan, and the issuer’s general corporate costs.
The reconstruction of overhead power transmission lines will ensure the reliable functioning of electrical grids, optimise consumer expenses, and improve KEGOC’s performance.
The construction of new electrical facilities is expected to ensure reliable power supplies to consumers in the Western zone of the Unified Power System of Kazakhstan by developing 220 kV electrical grids among the regions.
The projects are of significant social importance as they will create jobs during the construction period, which is expected to foster the development of the real sector, improve employment rates and living standards, and increase tax revenues.
The financial adviser and broker for the purchase was SkyBridge Invest.
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)
KEGOC is the system operator of the Unified Power System of Kazakhstan, and the owner and asset manager of the National Power Grid (NPG). The company is a natural monopoly. It owns about 27,000 km of 220-1150 kV power transmission lines and 80 electrical substations with an installed transformer capacity of more than 36.0 GVA, which form the NPG. The company employs over 4,700 people. For additional information please visit www.kegoc.kz.
SkyBridge Invest. Licence to Operate in the Securities Market 4.2.192/113. Licence to Operate at the Astana International Financial Centre 112018-0012.
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