Business
KazakhGold - Bond Issue
KazakhGold - Bond Issue.
About this update from Kazera Global Plc
[{"type":"text","content":"\n KazakhGold Group Ltd\n27 October 2006\n\n\n OCTOBER 27, 2006\n\n $US200m KAZAKHGOLD EUROBOND ISSUE CLOSES\n 3.75 TIMES OVERSUBSCRIBED\n\n• 7-Year Bond With Yield Of 9.375p.c. Issued At Par\n________________________________________________________________________________\n\n\nKazakhGold Group Limited (London: KZG) is pleased to announce that it has\ncompleted a $US200m Eurobond issue. The issue, oversubscribed by 3.75 times,\nwas managed by ING Debt Capital Markets and is of a 7-year bond with a yield of\n9.375p.c. to maturity and issued at par.\n\nKazakhGold, one of the leading gold producers in Kazakhstan, will be using the\nmonies raised for its accelerated capital spending programme with a residual\namount being for general corporate purposes.\n\nAidar Assaubayev, KazakhGold's Deputy Chief Executive, commented: 'It has been\nan extremely successful fund raising and very well received by the debt markets.\nWe are the fourth gold mining company in the world to issue a non-convertible \nEurobond and the first company from Asia, Eastern Europe and Africa to issue \nsuch a bond. The fact that $US748m was forthcoming illustrates the interest \ninvestors have in the KazakhGold Group. The bond issue was accomplished all \nwithin six working days and the result is a triumph for our company, the \ndedicated team at ING, and all concerned.'\n\nInvestors from more than 21 countries subscribed to the issue with 118 accounts\nbeing accommodated. Of the total, Asia accounted for 24p.c. of the take-up,\nU.S. Offshore 23p.c, UK 21p.c, Switzerland 18p.c., Germany 5p.c., and other\nregions 9p.c. Allocations went to: Fund Managers 41p.c, Private Bank/Retail\n37p.c., Banks/Financial Institutions 21p.c., Others 1p.c.\n\nMr. Rob Mason, vice-president of ING Debt Capital Markets said: 'It has been an\nextremely smooth execution and we have been delighted with the reception to\nthis debut Eurobond transaction for KazakhGold.'\n\n\nFurther Information:\n\nAidar Assaubayev Ron Marshman/John Greenhalgh\nDeputy Chief Executive City of London PR Limited\nKazakhGold Group Limited Tel: +44 (0) 20-7628-5518\nTel: +44 (0) 7770 963107 Mobile: +44 (0) 7767-445390\n\nWebsite: www.kazakhgold.com KazakhGold Share Price\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2823,"tagName":"div"}]