/KASE, April 16, 2024/ – Development Bank of Kazakhstan JSC (Astana),
whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated April 16, 2024:
quote
On April 2, 2024, Development Bank of Kazakhstan JSC (the "Offeror"), a joint-
stock company established in the Republic of Kazakhstan, announced the
commencement of a cash tender offer on all of its: (i) bonds with an interest rate
of 5.75% per annum maturing in 2025 (the "US Dollar Bonds") issued by the
Offeror (the "US Dollar Bonds Tender Offer"); and (ii) 10.75% per annum bonds
maturing in 2025 (the "Tenge Bonds") issued by the Offeror (the "Tender Offer
for the Tenge Bonds and, together with the Tender Offer for the US Dollar Bonds,
"Tender Offers") from each Holder (as defined in the Offer to Purchase), on the
terms and conditions set forth in the offer to purchase dated April 2, 2024 (the
"Offer to Purchase"). Capitalized terms used but not defined herein, have the
meanings set forth in the Offer to Purchase. Copies of the Offer to Purchase are
available, subject to registration and verification of eligibility, on the Tender Offer
Website:
https://projects.morrowsodali.com/dbk
The Offeror is making Tender Offers in conjunction with offers of new Eurobonds
(the "New Bonds Offers"), including new Eurodollar bonds issued under the
Offeror's medium-term bond program (the "New US Dollar Bonds") and new
Kazakh tenge-denominated Eurobonds issued under the Offeror's medium-term
bond program (the "New Tenge Bonds" and, together with the New US Dollar
Bonds, the "New Bonds"). The New Bond Offerings were closed on April 15,
2024 and, accordingly, the Financing Condition was fulfilled. Proceeds from the
New Bonds Offering will be used to finance the Tender Offers. An amount equal
to the proceeds from the New Tenge Bonds will be used in accordance with the
Concept of Green and Sustainable Financing of Development Bank of
Kazakhstan JSC published on the Offeror's website. The New Bonds have not
been and will not be registered under the United States Securities Act of 1933,
as amended. The tender offers are not an offer to sell or a solicitation of an offer
to buy any New Bonds. With respect to the New Bonds, no action has been
taken or will be taken in any jurisdiction to permit a public offering of the
securities.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/BRKZ/brkz_relizs_160424_1_rus.pdf
[2024-04-16]