ALMATY (TCA) — The Eurasian Development Bank (EDB) says it has become the largest investor to take part in the primary issuance, at the Kazakhstan Stock Exchange (KASE), of 10-year international bonds of JSC KazTransGaz, the largest gas production and transportation company of Kazakhstan which represents state interests both in the domestic and foreign gas markets. The EDB accounts for 76.92% (US$ 60 million) of all closed bids for KazMunaiGaz bonds received by KASE.
The total value of the issue is US$ 750 million. Investors placing their bids via the KASE trading system have been allocated bonds with an aggregate principal of US$ 78 million (or 10.4% of the total value of the issue). The total value of investor bids placed via KASE exceeds US$ 100 million. The cut-off YTM has been set at 4.40%.
Commenting on the deal, Dmitry Ladikov-Roev, EDB Managing Director, ALM, said: “It was important for us to have taken part in the issuance of Eurobonds through the KASE trading platform, and thereby support the burgeoning financial market of Kazakhstan. In addition to that, our involvement in the deal is fully consistent with the EDB’s mission to promote development of the economies of its member states, as this Eurobonds issue will promote development of the real sector of the Kazakh economy.”
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and expansion of their mutual trade and economic ties. The charter capital of the EDB is US$ 7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan.
