BAKU, Azerbaijan, Nov. 11
Trend:
Kazakh Baiterek National Managing Holding placed its bonds worth 50 billion tenge ($120 million) on Kazakhstan Stock Exchange (KASE) with the 10-year circulation term and 11.3 -percent annual reimbursement rate, Trend reports referring to Kazinform News Agency.
The holding’s bonds were offered to a wide range of investors, and the demand for the held specialized trading sessions made up 127 percent. The raised funds were used to finance lease financing through the Kazakh Industrial Development Fund JSC.
This issue is the first issue within the eighth bond program of the Baiterek holding. By the end of this year, it is planned to carry out two additional bond issues totaling 100 billion tenge ($230 million).
Halyk Finance JSC acted as a financial consultant and together with SkyBridge Invest JSC as a broker on the transaction.
Baiterek National Managing Holding is a public joint-stock company that was established in May 2013 by a decree of the President of Kazakhstan. It is a key institution of the Kazakhstan government, meeting the advanced standards of corporate governance and ensuring the implementation of tasks for the sustainable development of the country’s economy by diversifying it, supporting innovation, developing exports, and increasing labor productivity.
(1 USD = 427.35 tenge on Nov.11)
