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KazMunaiGas to Issue US Dollar Denominated Bonds

April 24
8:37 AM 2013

KazMunaiGas, the state oil company of Kazakhstan, is planning to undertake two Eurobond issues totalling US$10.5 billion. It also opened books for possible bidders last Wednesday and the lead manager for the bond sale is Halyk Finance.

The first issue from the Kazakh oil giant is a lot of US dollar denominated bonds having a nominal value of no more than US$500 million. Its terms include a 10 year maturity with a yield of 4.65% annually. These terms were confirmed by Halyk Finance at the Kazakhstan Stock Exchange.

The second issue would also have a nominal value of no mre than US$500 million would have a maturity of thirty years and a yield of a little below 6.0% per annum.

KazMunaiGas would be holding meetings with possible investors arranged by Bank of America Merrill Lynch and Barclays. The two financial institutions are the lead managers and bookrunners together with not only Halyk Finance but also Visor Capital.

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