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KazMunayGas guides pricing of three issues of dollar notes
By Rebecca Melvin
New York, April 17 – SC NC KazMunayGas was guiding pricing for three tranches of dollar notes on Tuesday, according to a syndicate source.
Final guidance was for a yield on the seven-year notes at 4¾% to 4 7/8%. The 12-year notes were guided to yield 5 3/8% to 5½%, and the 30-year notes were guided to 6.45% to 6.6%.
The order books were seen in excess of $4.25 billion.
The new deals are pricing concurrently with a tender offer for four series of notes. The early bird tender was about $2.731 billion and additional votes in favor of consent at about $228 million.
Citigroup, Halyk Finance, JPMorgan, MUFG and UBS Investment Bank are joint lead managers and joint bookrunners of the Rule 144A and Regulation S deal.
The company is concurrently tendering for cash its $1.5 billion of 7% notes due 2020, $1.25 billion of 6 3/8% notes due 2021, $500 million of 4 7/8% notes due 2025 and $2 billion of 5¾% notes due 2043. The early deadline to participate in the tenders was April 16, and expiration is May 1.
KazMunayGas is Kazakhstan's state-owned oil and gas company.
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