/KASE, April 26, 2022/ – Development Bank of Kazakhstan JSC (Nur-Sultan),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated April 26, 2022:
quote
Development Bank of Kazakhstan JSC ("Offeror"), a joint-stock company
incorporated in the Republic of Kazakhstan, announces the launch of an Offer for
Purchase ("Tender Offer") of Bonds with a coupon rate of 4.125 % maturing in
2022, issued by the Offeror ("Bonds"), with cash payment of interest on the
Bonds being acquired, for an aggregate principal amount of up to USD700 mln
(the "Maximum Tender Offer Amount"). The tender offer is made subject to the
terms and conditions set forth in the Purchase Offer dated April 26, 2022
("Purchase Offer"). The Offeror reserves the right to increase the Maximum
Tender Offer Amount at its own discretion.
The Offeror is making the Tender Offer in conjunction with an offer of dollar-
denominated Eurobonds which are going to be issued under the Offeror's
medium-term bond program ("New Bonds") as a way of managing its financial
obligations and debt repayment profile ("New Bonds Offering"). The price of the
New Bonds Offering is expected to be set prior to the early bird orders
collection deadline, with a closing date of approximately 9 May 2022. Subject
to the successful closure of the New Bonds Offering, it is expected that
proceeds from the New Bonds Offering will be used to partially fund the Tender
Offer. The Offeror intends to use its own available funds to finance the
remainder of the Tender Offer. Provided that the Offeror does not withdraw from
the Tender Offer, the Tender Offer is conditional, among other things, on a
successful completion (at the sole discretion of the Offeror) of the New Bonds
Offering ("Funding Condition"). The New Bonds have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"Securities Act"). The Tender Offer is not an offer (offer) to sell or a
request for an offer (offer) to buy the New Bonds. No action has been taken and
will not be taken in any jurisdiction with respect to the New Bonds to permit a
public offering of securities.
The Tender Offer will expire at 11:59 pm New York time on May 23, 2022 (the
"Tender Offer End Date") unless it is renewed or terminated early. Holders (as
defined below) who offer their Bonds (as defined below) may withdraw such
Bonds at any time prior to 5:00 pm New York time on May 9, 2022 (this time and
date may be extended, "The Order Withdrawal End Date").
end quote
The full version of the press release is available -
https://kase.kz/files/emitters/BRKZ/brkz_relizs_260422.pdf
[2022-04-26]
[2022-04-26]