Development Bank of Kazakhstan places additional USD 277mn Eurobonds.

By bne IntelliNews January 27, 2011
Development Bank of Kazakhstan (DBK) placed additional USD 277mn Eurobonds. The yield of the issue is 4.95%, the local stock exchange KASE has informed. To remind you, the bank placed USD 500mn Eurobonds in December 2010. The maturity period was set at 5 years and coupon rate was set at 5.5%. According to KASE, Kazakh investors purchased a 9% share the additional issue. DBK was established in 2001 in order to implement the states investment policy. The banks only shareholder is national sovereign fund SamrukKazyna. DBK invests mainly in chemistry, metallurgy, transportation and communication, electricity sector and production of construction materials.

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