An article that appeared in the Nov. 4 edition of the Prospect News Emerging Markets Daily misstated the details of KazMunaiGaz National Co.’s 2025 tranche and failed to include the second tranche of dollar notes. The corrected story follows.
By Christine Van Dusen
Atlanta, Nov. 4 – Kazkakhstan’s KazMunaiGaz National Co. priced a combined $1.5 billion of notes due in 2024 and 2044 (Baa3/BBB-/BBB), a market source said.
The deal included $500 million 4 7/8% notes due May 7, 2025 that priced at 99.392 to yield 4.95%.
The $1 billion 6% notes due Nov. 7, 2044 priced at 98.392 to yield 6.1%.
Citigroup, Credit Suisse, Deutsche Bank and UBS were the bookrunners for the deal.
The issuer is a gas company based in Astana.
| Issuer: | KazMunaiGaz National Co.
|
| Amount: | $1.5 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Credit Suisse, Deutsche Bank, UBS
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 7
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Notes due 2025
|
| Amount: | $500 million
|
| Maturity: | May 7, 2025
|
| Coupon: | 4 7/8%
|
| Price: | 99.392
|
| Yield: | 4.95%
|
|
|
| Notes due 2044
|
| Amount: | $1 billion
|
| Maturity: | Nov. 7, 2044
|
| Coupon: | 6%
|
| Price: | 98.392
|
| Yield: | 6.1%
|
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