Baku, Azerbaijan, Nov. 25
By Elena Kosolapova - Trend: Kazakh National Company Kazakhstan Engineering placed a debut 3-year $200 million Eurobonds at 4.55 percent, Halyk Finance reported on November 25.
The Eurobonds were placed on November 22.
The initial price guidance was in the range of 4.50-4.875 percent. The offering was twice oversubscribed with an order book of almost $403 million.
Kazakhstan investors purchased $95.9 million Eurobonds, out of which 28.4 percent was bought by pension funds, 35.5 percent - by banks, and the rest - by brokerage houses and their clients.
The issue has a rating of BBB-(EXP) from Fitch and (P)Ba2 from Moody's.
Halyk Finance acted as a Joint Lead Manager and Bookrunner of the issue.
The Kazakh National Company 'Kazakhstan Engineering' is administered by the Kazakh Defense Ministry. In total, the company unites 24 enterprises located in different regions of the country. The company's mission is to ensure the state's strategic interests in the development of the defense industry, manufacturing high-quality military-industrial products and services to the Defense Department and Kazakh other law enforcement agencies.
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