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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
SSA
PRCD
KAZAKS
Republic of Kazakhstan$1,500
1EMEA
Oct 3, 2024
currency
USD
size (m)
1,500.000
maturity
Apr 9, 2035
type
Fixed
tenor
10.500
call
-
registration
144A/Reg S
benchmark
Tsy
ranking
Sr. Unsecured
moody's
Baa1
s&p
BBB-
fitch
BBB
size description
-
re-open/tap
No
ipt
T+120 area
ipt-pxd
-
guidance
T+100 area; spread set at T+88
spread
88
coupon
4.714%
spread set
-
price
100.00000
yield
4.714%
book size (m)
3,200
peak book (m)
-
x-covered
2.13
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
3,200
peak book (m)
-
x-covered
2.13
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
Book size: 3200; Registration: 144A/Reg S; Comments: USD1.5bn L10yr Apr 2035 snr unsec bmk RegS/144A. Baa1/BBB-/BBB. JBs Citi(B&D)/JPM/SG/BCC Invest (JLM only). IPTs T+120 area, guidance T+100 area, set T+88, launch 1.5bn. Books 3.2bn+ (peak 5.7bn+). T 3.875% 08/15/34 100-10+. FTT 8am;
Deal Comments
The Republic of Kazakhstan (KAZAKS), rated Baa1 by Moody's, BBB- by S&P and BBB by Fitch (all stable), US$1.5bn 144A/Reg S long 10y sr notes due 4/9/35. Citi (B&D)/JPM/SG as Joint Lead Managers and Joint Bookrunners and BCC Invest as Kazakhstan Lead Manager. The Offering will be issued under the Republic’s GMTN Programme with a dual listing on the London Stock Exchange and Astana International Exchange (AIX). Pricing 10/3. Settle 10/9. IPTs: T+120 area. GUIDANCE: T+100 area. UPDATE: spread set at T+88. LAUNCHED: $1.5bn L10y at T+88. PRICED: $1.5bn 4.714% 4/9/35 100.00 4.714% T+88. The Republic of Kazakhstan, rated Baa1 by Moody's, BBB- by S&P and BBB by Fitch (all stable), has mandated Citi, JP Morgan and Societe Generale as Joint Lead Managers and Joint Bookrunners and BCC Invest as Kazakhstan Lead Manager to arrange a Global Investor Call at 2PM UKT / 9AM NYT on Wednesday, 2nd October 2024, as well as series of fixed-income investor calls commencing on the same day. A US$-denominated 144A/Reg S senior unsecured benchmark-size Eurobond offering with a long-10 year maturity will follow subject to market conditions. The Offering will be issued under the Republic’s GMTN Programme with a dual listing on the London Stock Exchange and Astana International Exchange (AIX). Relevant stabilisation regulations including FCA/ICMA apply.

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