/KASE, May 13, 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 13, 2022:
quote
Development Bank of Kazakhstan JSC (a subsidiary of National managing
holding "Baiterek" JSC), on May 12, 2022, successfully completed the placement
of a three-year Eurobond issue in the amount of USD500 million and a coupon
rate of 5.75 % per annum.
This was the first placement of Eurobonds throughout the CIS since the
beginning of the conflict in Ukraine in February 2022. Despite market volatility
ahead of the US Federal Reserve (Fed) meeting on May 4, at which the US
regulator raised rates by 50 basis points for the first time since 2000, DBK
took advantage of positive market conditions early the next day and opened the
order book for a new Eurobond issue, which was closed on the same day.
The offer of Eurobonds aroused considerable interest among investors, which
indicates the continued attractiveness of Development Bank of Kazakhstan, in
particular, and Kazakhstan in general. There were over 60 different investors in
the final book. The wide geography of the Eurobonds placement was
represented by Kazakhstan (47 %), USA (21 %), continental Europe (16 %),
Great Britain (15 %) and Asia (1 %). The main share of investors were
management companies (67 %), as well as banks (25 %), insurance and pension
funds (8 %).
The funds that DBK will raise as a result of the Eurobond issue will be used to
buy back Eurobonds placed in 2012, which are due to be redeemed in December
2022.
Joint bookrunners for the placement and dealer managers for the purchase were
J.P. Morgan Securities Plc, Citigroup Global Markets Limited, Halyk Finance JSC
and MUFG Securities EMA Plc. Kroll Issuer Services Limited was appointed the
tender agent.
unquote
The full press release is available on –
https://kase.kz/files/emitters/BRKZ/brkz_relizs_130522.pdf
[2022-05-13]