New Issue: Kazakhstan's KazMunayGaz prices $1.25 billion 6 3/8% notes due 2021 to yield 6 5/8%

By Christine Van Dusen

Atlanta, Nov. 3 - Kazakhstan's NC KazMunayGaz priced $1.25 billion 6 3/8% notes due April 9, 2021 (Baa3) at 98.147 to yield 6 5/8%, or Treasuries plus 408.4 basis points, a market source said.

Credit Suisse, RBS and UBS were the bookrunners for the Rule 144A and Regulation S deal, which was talked at the 6¾% area, then reduced to 6 5/8% to 6¾% before launching at the 6 5/8% area.

KazMunayGaz is Kazakhstan's state-owned oil and gas company.

Issuer:	NC KazMunayGaz
Amount:	$1.25 billion
Maturity:	April 9, 2021
Description:	Notes
Bookrunners:	Credit Suisse, RBS, UBS
Coupon:	6 3/8%
Price:	98.147
Yield:	6 5/8%
Spread:	Treasuries plus 408.4 bps
Trade date:	Nov. 3
Settlement date:	Nov. 10
Rating:	Moody's: Baa3
Distribution:	Rule 144A and Regulation S
Price talk:	6¾% area initial talk, then reduced to 6 5/8%-6¾%; launched at 6 5/8% area

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