KazMunaiGas raises $1.5 billion with new bond issue
30.04.2010
KazMunaiGas raises $1.5 billion with new bond issue
KazMunaiGas (KMG), Kazakhstan’s national oil and gas company, raised $1.5 billion in a 10-year bond issue, offering a yield of 7.25 percent or 350 basis point over U.S. Treasuries, Dow Jones newswire reported.
Citigroup, Credit Suisse and Royal Bank of Scotland were join bookrunners on the sale.
Kazahstan (1) -- Analyses -- 2010
More about the deal
30.04.2010
The deal was earlier expected to have five and 10-year tranches, with initial price talk on Tuesday of 275 bps over U.S. Treasuries for both tranches but KMG dropped the plans to sell the five-year bond.
An existing $1.6 billion 2018 bond for the issuer is trading around 6.5 percent.
The bond will be the first from a Kazakh entity since some of Kazakhstan’s banks were forced to announce debt restructuring in the wake of the global financial crisis.
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