JSC National company KazMunayGas ("NC KMG") completed a dual tranche US$1.5 billion benchmark Eurobond issuance with a 10.5-year and 30-year terms

On 7 November 2014, JSC National company KazMunayGas ("NC KMG"), the largest Oil & Gas company in Kazakhstan, completed a dual tranche US$1.5 billion benchmark eurobond issuance with a final yield of 4.95% for a US$500 million 10.5-year tranche and 6.10% for a US$1 billion 30-year tranche. The Regulation S / Rule 144A 10.5-year senior bond tranche carries a 4.875% coupon rate per annum, with 30-year tranche paying a 6.000% coupon rate per annum. The offering is rated BBB (Fitch) / Baa3 (Moody's) / BBB- (Standard & Poor's).

The bonds will be listed on both the London stock exchange (LSE) and Kazakhstan stock exchange (KASE). Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited, Deutsche Bank AG, London Branch and UBS AG London Branch acted as Joint Bookrunners and Joint Lead Managers. JSC Skybridge Invest and JSC Kazkommerts Securities acted as Kazakhstan Bookrunners and Kazakhstan Lead Managers.

This bond offering represents the largest corporate eurobond deal in CIS in 2014. Following roadshow sessions in London, Munich, Boston, New York and Los-Angeles, NC KMG received orders from over 300 institutional investors.

Commenting on the bond issuance, Mr. Ardak Kassymbek, the company's Managing director for economics and finance said: "We are very pleased to have completed this eurobond transaction in the current volatile market conditions. The bond issue will help us optimize our average cost of funding and debt profile. I would like to thank my colleagues and our advisors and congratulate them on the successful completion of the deal"