Kazakh state holding KazAgro placed USD 1bn debut Eurobonds. The issue was made in framework of the company’s USD 2bn borrowing programme. The bonds will mature in 2023. Coupon rate was set at 4.625% which is the lowest yield so far among Kazakh issuers of bonds with such maturity. The issue was oversubscribed with book order of USD 3.3bn. The placement was managed by HSBC Bank Plc and J.P. Morgan Chase. Around 35% investors were from Britain, 33% from the USA, 15% from continental Europe and 13% from Kazakhstan. KazAgro plans to invest proceeds in boosting the efficiency of Kazakh agriculture.
The International Monetary Fund (IMF) projects real GDP growth of 3.1% this year and 5.6% in 2025 for Kazakhstan in its newly released ... more
Lukoil is expanding its oil and gas operations in Kazakhstan, the Moscow-based Kommersant newspaper reported on April 8, amid limited overseas opportunities for the company because of Russia’s ... more
Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more