BAKU, Azerbaijan, March 28. Development Bank of Kazakhstan, in cooperation, with Kazakhstan Electricity Grid Operating Company (KEGOC) will place ESG bonds worth 50.9 billion Kazakh tenge ($112.15 million) on Kazakhstan Stock Exchange (KASE), Trend reports, citing KASE.
The bonds will be made available in the framework of the special trading sessions on March 29 and March 30.
The Development Bank of Kazakhstan will place 32 million “green” bonds with a maturity date of three and fifteen years, which will be spread out evenly. Their overall price will amount to 32 billion Kazakh tenge ($70.51 million), meaning each bond will cost 1,000 Kazakh tenge ($2.2).
The coupon rate is expected to be determined during the first trading session. Coupons will be paid twice a year - on June 21 and December 21.
Meanwhile, KEGOC will place 18.9 million bonds on 30 March for a price of 1,000 Kazakh tenge ($2.2) per bond. Coupon rate will be set at TONIA (Tenge OverNight Index Average) rate +3 percent fixed margin.
The “green” bonds are expected to assist in the process of attraction of funds for the implementation of the projects, which go in line with the ESG (Environmental, social, and corporate governance) principles.