Chicago, March 22 – Kazakhstan’s Eurasian Development Bank sold €300 million of 1% five-year notes (BBB), according to a press release.
The notes were sold with a yield to maturity of 1.2%.
Order books hit €1 billion and were still at €850 million when the final rate was announced.
Priced talk started at a benchmark yield of 1½% but was tightened to the 1¼% to 1 3/8% area.
The deal was the bank’s first eurobond since 2013.
The bank is based in Almaty, Kazakhstan. The bank was established in January 2006 by Russia and Kazakhstan.
| Issuer: | Eurasian Development Bank
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| Issue: | Notes
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| Amount: | €300 million
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| Tenor: | Five years
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| Coupon: | 1%
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| Yield: | 1.2%
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| Trade date: | March 10
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| Rating: | S&P: BBB
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| Price talk: | Initial talk at 1½%; tightened to 1¼% to 1 3/8% area
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