business and economy

Eurasian Development Bank issues bonds

By SRI ⋅ July 10, 2009 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Eurasian Development Bank (EDB), the development institution jointly owned by Kazakhstan and Russia, issued bonds for a total of KZT5 billion ($33 million). This is the second issuance by the EDB which placed KZT15 billion ($100 million) in April.

The coupon rate will be fixed at 15 percent in the first year, and starting from the second year it will be linked to the consumer prices index in Kazakhstan plus 1 percent. The coupon rate will be limited to the range of 8-16 percent throughout the maturity period.

The bonds will be placed among Kazakhstan investors, first of all pension funds and insurance companies, and listed on the special trading platform of the Regional Financial Centre of Almaty. This bonds are reportedly part of EDB’s current EMTN Programme which was registered in London in the end of the last year for a total of $3.5 billion.

The issuance was managed by Kazakhstan investment companies BCC Invest, Kazkommerts Invest and Halyk Finance.

Tags: Eurasian Development Bank

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