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Kazakh Development Bank adds $425 mln to 10-year bond
February 7, 2013 / 8:26 AM / 5 years ago

Kazakh Development Bank adds $425 mln to 10-year bond

MOSCOW, Feb 7 (Reuters) - The Development Bank of Kazakhstan has issued an additional $425 million in 10-year eurobonds as part of a global bond programme worth up to $2 billion, Andrei Solovyov, head of debt capital markets at Russia’s VTB Capital, told Reuters on Thursday.

The paper was priced to pay an annual coupon of 4.125 percent annual, Solovyov said. VTB was co-organiser of the issue.

“The issue was more than three times oversubscribed, with bids totalling $1.3 billion,” he said.

The state-run Development Bank of Kazakhstan, wholly owned by the Central Asian nation’s sovereign wealth fund Samruk-Kazyna, issued a $1 billion eurobond with an annual coupon of 4.326 percent last November.

The bank, which acts as an investment institution on behalf of the state, said at the time it planned to use proceeds from the issue to redeem its outstanding five-year eurobond launched in December 2010. (Reporting by Oksana Kobzeva; Writing by Mariya Gordeyeva and Dmitry Solovyov; Editing by Mark Potter)

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