Kazakhstan plans to sell Eurobonds in autumn.

By bne IntelliNews May 18, 2010
Kazakh finance minister Bolat Zhamishev informed about plans to sell USD 500-750mn Eurobonds in the autumn. Thus Kazakhstan, will join Russia and Egypt in a return to foreign markets. The bonds will be probably denominated in USD and will be used to set a benchmark for corporate borrowing. Kazakhstan will start selecting an arranger in June. He also stressed that the main aim is to fix benchmark for the corporate sector but not to raise money to cover the state budget deficit. The issue would be the first foreign-currency bonds in a decade as Astana seeks to lure investors after the global economic crisis forced the government to prop up its banking system and economy.

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