SkyBridge Invest announces results of KazTransGas Eurobonds offering
20.09.17 17:31
KASE, September 20, 2017/ – SkyBridge Invest (Almaty), the lead manager in
Kazakhstan for the planned KazTransGas (Astana) Eurobonds issue, has provided
Kazakhstan Stock Exchange (KASE) with a press release on results of the offering
of said bonds on September 19, 2017.
quote
SkyBridge Invest, the lead manager in Kazakhstan, together with Citigroup Global
Markets Limited, ING Bank N.V., London Branch, VTB Capital plc, the joint lead
managers and joint book-runners, has successfully closed the order book on
KazTransGas initial Eurobonds offering.
On September 19, 2017 KazTransGas successfully closed the order book on
offering of the initial issue of USD-denominated Eurobonds, with a total face
value of $750 mln and double listing on the Irish Stock Exchange and Kazakhstan
Stock Exchange (KASE).
Initially, the approximate yield was announced as coupon rate of 4.70% APR.
Investors' orders were collected simultaneously on the ISE and KASE. In the
course of the trading the benchmark was reduced to 4.5-4.6%. The resulting yield
upon results of the trading made 4.40% APR, the coupon rate was fixed at 4.375%.
The uniqueness of this deal is determined by the impressive interest on the part
of both Kazakh and foreign investors. The total amount of purchase orders
exceeded the proposed volume more than 3 times, exceeding $2.2 bn. The total
volume of orders submitted through KASE is a record of the last 2 years
exceeding $100 mln. Such significant interest of investors reflects the trust
in KazTransGas as a first-class issuer with a high credit rating and stable
financial position.
The largest investor was the Eurasian Development Bank (EDB).
Dmitriy Ladikov-Roev, EDB's managing director for assets and liabilities,
commented on the bank's participation in the offering: "We, as a development
institute, are pleased to contribute to the growth of long-term investments in
Kazakhstan's real sector. It is important to us to take part in a Eurobonds
issue offered on KASE, and thus, show support to Kazakhstan's financial market.
We hope, the number of investors, investors base and the versatility of
financial instruments listed on stock exchanges of EDB-member countries, will
continue to grow".
Sholpan Ainabaeva, Chairman of Management Board of "SkyBridge Invest", the
lead manager of the deal in Kazakhstan, estimated the market's enthusiasm with
optimism: "A demand 3 times exceeding the supply is the acknowledgement of
KazTransGas's high credit quality and sign of the continuing recovery of
Kazakhstan's stock market".
Reference:
KazTransGas has ratings BBB- from Fitch Ratings, BB from Standard&Poor's,
Baa3 from Moody's Investors Services. It is a major gas-energy and gas-transportation
company in Kazakhstan representing government interests locally, and abroad. The
company operates the centralized infrastructure of commodity gas transportation
over trunk pipelines and gas distribution networks, facilitates the international
transit and sells gas in the country and abroad, develops, finances, builds and
operates pipelines and gas storage facilities. KazTransGas's sole shareholder is
NC KazMunayGas.
SkyBridge Invest is a successful investment company with a substantial track
record on Kazakhstan's stock market. SBI renders a wide range of services in the
field of asset management, brokerage, financial consultancy and underwriting,
corporate financing and holds awards like: "The best consultancy company in
emerging capital markets", edition Global Banking and Finance Review Awards
2015, as well as "The best managing company in Kazakhstan in 2012", edition
World Finance.
SkyBridge Invest is part of the group of companies "SB Capital", a leading
investment bank in Kazakhstan, a participant in major projects in Kazakhstan and
CIS.
Eurasian Development Bank (EDB) is an international financial organization
established by Russia and Kazakhstan in January 2006 with purpose of promoting
market economy in member countries, their sustainable economic growth and
extension of mutual trade and economic relationships. EDB's shareholder capital
is USD7 bn. Member-countries of the Bank include Armenia, Belarus, Kazakhstan,
Kyrgyzstan, Russian Federation and Tajikistan.
unquote
[2017-09-20]