Kazakhstan plans to come back to Eurobond market in September 2013, Finance Minister Bolat Zhamishev has stated. He added that the value of the issue would be probably USD 1bn. The move would help to ease budget pressure, according to the minister. To remind you, the government recently revised the budget for 2013, increasing deficit and thus is seeking foreign borrowings. It is also worth noting, the state-owned agriculture holding KazAgro placed recently 10-year USD 1bn Eurobonds with a coupon rate set at 4.625%. Kazakhstan issued the last Eurobonds in 2007, borrowing USD 350mn for 7 years. The announced Eurobonds will have 5-year maturity period.
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