KazMunayGas places 100 billion tenge bonds on Kazakh informal sock market
December 21. Interfax-Kazakhstan
National Company KazMunayGas has floated 100 billion tenge bonds maturing in 7 years on the informal stock market of Kazakhstan, underwriters Halyk Finance and Visor Capital said.
The underwriters said that over 20 investors and brokers, acting on behalf of their clients, submitted 32 bids.
The issuer has satisfied 30 bids from 20 investors and brokers, including entities operating on the pension market (51.8%), second tier banks (25.6%), brokerage and dealer companies and their clients (21.3%) and insurance companies (1.3%).
Prior to the bids acceptance, the rate of return was set at 7% per annum, or 626.0355 tenge per bond, the nominal value of which was 1.000 tenge, according to Halyk Finance and Visor Capita.
The number of notes issued is 100 million, the face value of one note at 1,000 tenge.
As reported, KazMunayGas was planning to finance the investment programs and refinance its debts from the monies to be raised.
National Company KazMunayGas JSC is a national operator for exploration, production, processing and transportation of hydrocarbons. The company represents the state interests in the oil and gas sector of Kazakhstan. KazMunayGas is wholly owned by Samruk-Kazyna National Welfare Fund.