KazMunayGas taps banks, sets roadshow for multi-tranche dollar notes

By Rebecca Melvin

New York, April 3 – SC NC KazMunayGas has selected banks and scheduled fixed-income investor meetings for a possible U.S. dollar-denominated benchmark offering of seven-, 12- and/or 30-year notes (expected ratings: Baa3//BBB-), subject to market conditions, according to an announcement.

Citigroup, Halyk Finance, JPMorgan, MUFG and UBS Investment Bank are joint lead managers and joint bookrunners of the Rule 144A and Regulation S deal.

Roadshow meetings in the United States, Kazakhstan and Europe are scheduled to begin on Friday.

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 is April 16, and expiration is May 1.

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

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