/KASE, February 7, 2020/ – Development Bank of Kazakhstan (Nur-Sultan),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated February 6, 2020:
Development Bank of Kazakhstan JSC (subsidiary of Baiterek National Managing
Holding JSC, hereinafter - the Bank, DBK) carried out the third issue of
Eurobonds denominated in KZT in the amount of KZT 62.5 bln. Maturity of
securities will be 5 years and the coupon rate will be 10.75% per annum. All
amounts are paid in US dollars. The transaction will be settled on February 12.
Issue of Eurobonds denominated in KZT of the Bank was proposed to investors in
Europe and Kazakhstan. The Bank's bond placement geography is represented by
investors from continental Europe (Italy, Germany, Switzerland, Liechtenstein,
France, Denmark and Finland) – 32%, Kazakhstan - 29%, Great Britain - 28%, and
other countries 11%, including investors from Russia and Middle East countries.
In absolute numbers, there are more than 25 investors.
International investor meetings on the issue of the Bank's KZT Eurobonds were
held from January 30 to February 4 in Frankfurt, Zurich, London and Almaty.
Joint book-runners of the issue were Halyk Finance, J.P. Morgan, Societe
Generale and UBS Investment Bank.
Considering DBK’s specialization, which is lending to large projects, the funds
raised through the issuance of the Bank's KZT Eurobonds allow lending to
businesses on favorable terms for entrepreneurs.
"We believe that the placement of KZT Eurobonds was successful, we were able to
place them on favorable terms, both according to their terms and rates. The
geography of investors from 13 countries who have shown interest in the Bank's
KZT Eurobonds shows that DBK is a reliable issuer and investors trust the
national currency of Kazakhstan, said Dmitriy Babichev, Deputy Chairman of the
DBK Management Board.
To remind, earlier DBK has already conducted two issues of KZT denominated
Eurobonds. The debut issue of Eurobonds in the amount of KZT 100 bln. was
implemented in December 2017 and KZT 100 bln. in April 2018.
The full press release is available on KASE website –