Kazakhstan launches $4 billion two-part bond
Posted on July 19, 2015 by KazCham
Business Intelligence from Colibri Law Firm: Issue #109
Kazakhstan is set to raise $4 billion through an offering of new 10-year and 30-year bonds.
Kazakhstan is selling $2.5 billion in 10-year bonds at 285 basis points over Treasuries and $1.5 billion in 30-year notes at 335 basis points over their U.S. equivalent.
Kazakhstan comes back to the international market after raising $2.5 billion in 10-year and 30-year bonds in October. The country is the first emerging-market sovereign to tap international capital markets after Gabon sold $500 million of 10-year notes last month. Developing-nation dollar bonds have strengthened their positions this month, with the average yield falling 20 basis points.
