/KASE, November 7, 2018/ – Kazkommerts Securities (subsidiary of Kazkommertsbank)
(Almaty, hereinafter – Kazkommerts Securities), a member of Kazakhstan Stock
Exchange (KASE), has provided KASE with the following press release dated
November 6:
quote
The Eurasian Development Bank (EDB) made another offering of its tenge-denominated
bonds at Kazakhstan Stock Exchange (KASE) for a total of KZT 20 billion.
In October, the Bank arranged meetings with potential investors in Kazakhstan
and, as a result, decided to make its third bond placement this year. The total
face value of the issue is KZT 20 billion. The bonds will mature in four years
with a coupon of 9.7% per annum. Moody's rated the bonds at Baa1, which is
also the Bank's current international credit rating. Investors submitted four
bids for a total of KZT 20 billion. Kazkommerts Securities was the financial
advisor and underwriter for the issue.
This offering has confirmed stable interest in the Bank's bonds on the part of
Kazakhstan's investors, as well as the possibility to place them in the market
despite the persisting volatilities. The issue has a minimal spread on
government securities, which reflects a positive trend and market environment
for the placement of financial instruments by reliable issuers.
"We are pleased to see investors' steady and significant interest in the EDB's
bonds despite the current market volatilities. It is very important that our
Bank has access to tenge-denominated resources to finance our project
activities. We would also like to express our gratitude to Kazkommerts
Securities for their support," Dmitry Ladikov-Roev, Managing Director for
Assets and Liabilities at the EDB, said.
"The Eurasian Development Bank has made another successful offering of its
bonds at KASE. From the beginning of the year, the issuer placed bonds for a
total of approximately KZT 90 billion in the domestic securities market. Given
the persisting volatility of the tenge and the relatively high yield on
instruments denominated in foreign currencies, this confirms significant demand
for the bonds of high-class issuers such as the Eurasian Development Bank, and
those with the minimal spread on government securities," Timur Salimov,
Managing Director and Board Member at Kazkommerts Securities, commented.
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.
Read more about the EDB at
http://eabr.org/
Kazkommerts Securities is one of the leading investment banks in Kazakhstan
offering all types of investment and banking services, including brokerage,
trade in securities, financial advice and underwriting (the arrangement of the
issue and placement of debt and equity securities), corporate finance,
investment portfolio management, and research.
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)
pressa@eabr.org
Kazkommerts Securities:
Investment Banking
Indira Alkenova +7 (727) 244 65 05 (ext. 58025)
+7 (727) 244 65 05 (ext. 58025)
ialkenova@kazks.kz
ib@kazks.kz
unquote
[2018-11-07]