KazakhGold Group Ltd
27 October 2006
OCTOBER 27, 2006
$US200m KAZAKHGOLD EUROBOND ISSUE CLOSES
3.75 TIMES OVERSUBSCRIBED
• 7-Year Bond With Yield Of 9.375p.c. Issued At Par
________________________________________________________________________________
KazakhGold Group Limited (London: KZG) is pleased to announce that it has
completed a $US200m Eurobond issue. The issue, oversubscribed by 3.75 times,
was managed by ING Debt Capital Markets and is of a 7-year bond with a yield of
9.375p.c. to maturity and issued at par.
KazakhGold, one of the leading gold producers in Kazakhstan, will be using the
monies raised for its accelerated capital spending programme with a residual
amount being for general corporate purposes.
Aidar Assaubayev, KazakhGold's Deputy Chief Executive, commented: 'It has been
an extremely successful fund raising and very well received by the debt markets.
We are the fourth gold mining company in the world to issue a non-convertible
Eurobond and the first company from Asia, Eastern Europe and Africa to issue
such a bond. The fact that $US748m was forthcoming illustrates the interest
investors have in the KazakhGold Group. The bond issue was accomplished all
within six working days and the result is a triumph for our company, the
dedicated team at ING, and all concerned.'
Investors from more than 21 countries subscribed to the issue with 118 accounts
being accommodated. Of the total, Asia accounted for 24p.c. of the take-up,
U.S. Offshore 23p.c, UK 21p.c, Switzerland 18p.c., Germany 5p.c., and other
regions 9p.c. Allocations went to: Fund Managers 41p.c, Private Bank/Retail
37p.c., Banks/Financial Institutions 21p.c., Others 1p.c.
Mr. Rob Mason, vice-president of ING Debt Capital Markets said: 'It has been an
extremely smooth execution and we have been delighted with the reception to
this debut Eurobond transaction for KazakhGold.'
Further Information:
Aidar Assaubayev Ron Marshman/John Greenhalgh
Deputy Chief Executive City of London PR Limited
KazakhGold Group Limited Tel: +44 (0) 20-7628-5518
Tel: +44 (0) 7770 963107 Mobile: +44 (0) 7767-445390
Website: www.kazakhgold.com KazakhGold Share Price
This information is provided by RNS
The company news service from the London Stock Exchange