Republic of Kazakhstan $4 billion 6.5% sovereign MTN issue

Overview:

• The Republic of Kazakhstan has undertaken a $4 billion sovereign bond issue under its MTN programme.
• The 6.5% notes are due in 2045.
• The issue consisted of two series of notes offered under Rule 144A/Reg S
• JPMorgan, Citigroup, Kazkommerts Securities and Halyk Finance acted as arrangers.
• The timing of the issue was driven in part by the conclusion of Greece's deal with its creditors, which calmed the international bond markets.

Wai Yee Tsang - Journalist