/KASE, May 12, 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 May 12, 2022:
quote
On April 26, 2022, Development Bank of Kazakhstan JSC ("Offeror"), a joint
stock company incorporated in the Republic of Kazakhstan, announced the
launch of its offer to purchase ("Tender Offer") the Bonds with a coupon rate of
4.125 % maturing in 2022 issued by the Offeror ("Bonds"), with payment of
interest for the purchased Bonds in cash, for a total principal amount of up to
700 million US dollars ("Maximum Tender Offer Amount"). The Tender Offer is
made in accordance with the terms and conditions set forth in the Purchase
Offer dated April 26, 2022 (the "Purchase Offer"). Terms capitalized in this
announcement, but not defined therein, have the meanings given to them in the
Purchase Offer.
The Offeror makes the Tender Offer in conjunction with the placement of dollar-
denominated Eurobonds 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 Offer"). The New Bonds Offer is expected to
close approximately May 12, 2022. It is expected that, subject to the successful
completion of the New Bonds Offer, proceeds from the New Bonds Offer 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, it will be conditional, among
other things, on the successful completion (at the sole discretion of the
Offeror) of the New Bonds Offer (the "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 for
the sale or a request for offers for the purchase of New Bonds. No jurisdiction
has, or will take, action in respect of the New Bonds to permit a public
offering of the securities.
unquote
The full version of the press release is available -
https://kase.kz/files/emitters/BRKZ/brkz_relizs_120522_1.pdf
[2022-05-12]