/KASE, October 25, 2021/ – Freedom Finance (Almaty) has provided Kazakhstan
Stock Exchange (KASE) with the following press release dated October 25,
On October 21, 2021, in the markets of Kazakhstan Stock Exchange (KASE) and
Astana International Exchange (AIX), orders were collected for participation in
the initial offering of the debut issue of five-year international bonds of
senior unsecured debt of Samruk-Kazyna JSC, denominated in US dollars.
Collecting orders from potential investors on KASE and AIX began simultaneously
with the offering of these securities on the territory of the foreign state.
The total volume of orders filed by Kazakhstan's investors amounted to USD216
million. Based on results of the review of the general order book, the yield to
maturity on this offering was determined at the level of 2.25 % per annum. The
volume of the Eurobond issue amounted to USD500 mln and the coupon rate
was 2.00 % per annum. Settlement of orders collected from investors and subject
to execution will be carried out on October 28, 2021.
The largest part of the issue (43%) was issued as part of meeting the demand of
Kazakhstan's investors who submitted their bids through KASE and AIX. The rest
of the volume was distributed among investors from the UK (19%), Europe
(except the UK) (18%), the USA (16%) and Asia (4%). More than 70 international
investors took part in the offering.
Freedom Finance JSC and First Heartland Securities JSC acted as leading
Kazakhstan managers and bookrunners of this placement. International banks
Citigroup Global Markets Limited, MUFG Securities EMEA plc, UBS AG London
Branch, VTB Capital plc acted as joint lead managers and bookrunners.
Debt securities issued in accordance with English law and offered in accordance
with Rule 144A and Regulation S.
The expected ratings of this Eurobond issue were determined at "BBB-" and
"BBB" levels by S&P Global Ratings and Fitch Ratings, respectively.
After settlement of the Eurobonds, the issuer plans to complete listing
procedures on KASE and AIX. The Eurobonds are also planned to be included in
the official list of the London Stock Exchange (LSE).
Purpose of proceeds from the placement of the Eurobonds – refinancing of the
existing debt of the issuer on syndicated and bank loans and financing of
general corporate purposes.
The full press release is available on KASE website –