By Marisa Wong
Los Angeles, June 1 – Kazakhstan Electricity Grid Operating Co. (Kegoc) sold KZT 9.7 billion of 15-year bonds with an initial coupon of 11% at a special trading session held on Thursday.
The bonds were sold at a “clean” price of 93.1176 to yield 12%.
The coupon will reset after seven years to the base rate of the National Bank of the Republic of Kazakhstan plus a spread of 200 basis points.
The electricity grid operator is based in Nur-Sultan, Kazakhstan.
| Issuer: | Kazakhstan Electricity Grid Operating Co.
|
| Issue: | Bonds
|
| Amount: | KZT 9.7 billion
|
| Maturity: | 15 years
|
| Coupon: | 11% for first seven years, then resets to base rate plus 200 bps
|
| Price: | 93.1176
|
| Yield: | 12%
|
| Auction date: | May 28
|
| Settlement date: | May 28
|
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