0 forum postAfter the end of order collection on November 26, 2012 the Issuer fixed the cut-off price corresponding with the Notes’ yield to maturity at 4.326% APR. The total face value of the issue made up $1 bln (with the total volume of orders collected totalling about $3.43 bln). $130.2 mln (or 13.02% of the issue’s total face value) was distributed amongst Kazakhstan’s investors. The total volume of orders submitted by Kazakhstan’s investors made up $10.65 mln. Whereas 47.5% came from commercial banks, 47.5% – from pension funds and 5% – from brokerage firms and their clients.
Below are the final parameters of the Notes issue:
| Issuer: | JSC Development Bank of Kazakhstan |
| Expected ratings: | BBB+ (S&P), Baa3 (Moody’s), BBB (Fitch) |
| Issue’s total face value: | $1,000,000,000 |
| Settlement date: | December 10, 2012 |
| Maturity date: | December 10, 2022 |
| Offering price: | 98.382% |
| Coupon rate: | 4.125% APR |
| Coupon payment dates: | June 10 and December 10 each year |
| Yield to maturity at offering: | 4.326% APR |
| Time base at coupon amount calculation: | 30/360 |
| Issue format: | In accordance with Rule 144А and Regulation S of the US act on Securities |
| Denomination: | $200.000 or higher face value multiple of $1,000 Joint Lead Managers and Bookrunners: JSC Halyk Finance, J.P. Morgan, VTB Capital |
| Bonds status: | Senior unsecured |
| Regulating law: | English |
| Listing: | KASE, London Stock Exchange |
JSC Development Bank of Kazakhstan is a national development institute of the government of the Republic of Kazakhstan for financing of manufacturing sector of the Kazakhstan’s economy. 100% of shares of JSC Development Bank of Kazakhstan belong to Joint-stock company Sovereign wealth fund Samruk-Kazyna.
