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KazAgro placing EUR600 mln in 5-yr notes at 250 bps against swaps

Kazakhstan's KazAgro National Holding is placing 600 million euro in five-year notes at 250 basis points against mid-market euro swaps, a banking sector source told Interfax late Thursday.

 
Initial guidance was 280 bps against swaps.
 
Final coupon yield is 3.255% pa.
 
HSBC Bank Plc, The Royal Bank of Scotland, Citigroup Global Markets Limited are the lead arrangers of the issue and Kazakhstan-based Tsesna Capital the local underwriter.
 
The bonds will be repurchased at 101% of face value if Kazakhstan ceases to own 100% of the holding.
 
KazAgro started a road show for the bonds in Europe on May 12.
 
The board of directors approved plans to offer up to $2 billion in Eurobonds back in April last year.
 
National Managing Holding KazAgro JSC, established in December 2006, is in charge of the Kazakh government's agricultural policy. The company manages the assets of its subsidiaries: JSC National Company Food Contract Corporation, JSC KazAgroProduct, JSC KazAgroFinance, JSC Agrarian Credit Corporation, JSC Fund for Financial Support of Agricultural Sector, JSC KazAgroGarant and JSC KazAgroMarketing.
 
 
18 May 2014

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