By Aaron Hochman-Zimmerman
New York, July 28 - KazMunaiGaz priced a $250 million reopening of its senior unsecured 11¾% bonds (Baa2/BB+/BBB-) due 2015 at 102 level, according to a market source.
Citigroup and JPMorgan acted as bookrunners for the Rule 144A and Regulation S deal which closed very shortly after books opened.
The original $1.25 billion bonds were priced on July 17 at 99.014 to yield 12%.
Proceeds from the deal priced will be used for general budgetary purposes and to refinance debt.
The notes were issued via KazMunaiGaz Finance Sub BV.
KazMunaiGaz is an Astana, Kazakhstan-based, government-run energy firm.
Issuer: KazMunaiGaz Finance Sub BV
Issue: Retap of senior unsecured global notes
| Amount: | $250 million
|
| Maturity: | Jan. 23, 2015
|
| Coupon: | 11¾%
|
| Price: | 102
|
| Bookrunners: | Citigroup, JPMorgan
|
| Distribution: | Rule 144A, Regulation S
|
| Pricing date: | July 28
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB+
|
| Fitch: BBB-
|
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