ASTANA, Kazakhstan, October 24. Kazakhstan’s KazMunayGas (KMG) has successfully closed the book for its debut issuance of Chinese yuan-denominated Eurobonds (dim sum bonds) totaling 1.25 billion yuan (around $175 million) with a five-year maturity, a coupon rate of 2.950 percent, and a yield of 3.150 percent, Trend reports, citing the company.
The debut issue was carried out under the company’s recently established CNY 10 billion Medium-Term Note Programme. The issue has received a Baa1 credit rating from Moody’s, in line with KMG’s issuer rating. The placement is scheduled for October 30, 2025.
KMG appointed BOC International, Bank of China (Hong Kong), China CITIC Bank International, China International Capital Corporation, and Citi as Joint Global Coordinators, Joint Bookrunners, and Lead Managers, together with SkyBridge Invest as the Kazakhstan Lead Manager, and BOCOM International, ICBC (Asia), and Industrial Bank Co., Ltd. Hong Kong Branch as Joint Lead Managers and Joint Bookrunners.
The engagement transpired subsequent to a continuum of hybrid assemblies with fixed-income stakeholders throughout the Asian market commencing on October 21, following comprehensive non-deal roadshow presentations and dialogues with principal investors.
This issuance provided KMG with a record-low yield in the Eurobond market and marked the company’s first entry into the Chinese yuan bond market, enabling it to diversify its debt portfolio, access a new investor base, and expand its presence in the Chinese financial market.
