BAKU, Azerbaijan, Feb. 8
By Nargiz Sadikhova - Trend:
Development Bank of Kazakhstan (DBK) announced a third issue of Eurobonds denominated in Kazakh tenge worth 62.5 billion tenge ($165.5 million), Trend reports with reference to the press office of DBK.
Maturity of securities will be five years and the coupon rate will be 10.75 percent per annum, interest will be paid in US dollars. The transaction will be settled on February 12.
The Bank's bond placement geography is represented by investors from continental Europe (32 percent), Kazakhstan (29 percent), the UK (28 percent), and other countries (11 percent), including investors from Russia and Middle East countries. Overall, there are more than 25 investors.
Considering DBK’s specialization, which is lending to large projects, the funds raised through the issuance of the Bank's Eurobonds allow lending to businesses on favorable terms for entrepreneurs.
Previously, DBK conducted two issues of tenge denominated Eurobonds. One in December 2017 and another in April 2018.
DBK is a national development Institute for the modernization and development of non-resource and infrastructure sectors of the economy of Kazakhstan, established in 2001