Development Bank of Kazakhstan announces tender bids received after deadline for accepting early bids, as part of offer to purchase bonds XS0860582435, US25159XAB91 (BRKZe7)

12.05.22 21:28
/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 - [2022-05-12]