Jusan Invest announces successful placement of Eurobonds of Development Bank of Kazakhstan

/KASE, October 23, 2024/ – First Heartland Jusan Invest JSC (Astana, in the heading – Jusan Invest JSC) as a joint bookrunner has provided the following notice to Kazakhstan Stock Exchange (KASE): quote Jusan Invest informs that the Development Bank of Kazakhstan JSC (hereinafter referred to as "DBK") has once again demonstrated its stability and reliability in international financial markets by successfully completing the placement of 5 – year Eurobonds denominated in US dollars in the amount of 500 million US dollars, as well as 3.5 -year Eurobonds denominated in tenge, in the amount of 65 billion tenge within the framework of the program for the issuance of medium- term notes. These transactions are part of DBK's set of measures to manage its obligations, which also includes a tender offer to buy back a previously issued tranche of DBK Eurobonds denominated in US dollars, maturing in 2025. Jusan Invest acted as a joint lead manager and bookrunner for these Eurobond issuance and placement transactions. The collection of applications for the purchase of DBK Eurobonds took place on October 16, 2024. At the same time, on the territory of the Republic of Kazakhstan, applications were collected through a subscription to the Kazakhstan Stock Exchange JSC (hereinafter – KASE). At the opening of the order book, the indicative yield to maturity was set in the range of 13,500% - 13.750% per annum for Eurobonds in tenge and in the range of 5.625% - 5.750% per annum for Eurobonds in US dollars. In the process of collecting applications, there was a high demand from international and Kazakhstani investors. The demand from investors exceeded the supply by 1.5 times for the dollar issue. As a result, DBK placed Eurobonds denominated in tenge with a yield to maturity of 13.50% and a coupon rate of 13.4892%, and Eurobonds denominated in US dollars with a yield to maturity of 5.30% and a coupon rate of 5.25%. More than 100 investors from different countries participated in the placement of both issues. In the book of applications for tenge-denominated Eurobonds, 100% of the demand was provided by international investors, and for dollar- denominated Eurobonds - 77% from international investors and 23% from Kazakhstani investors. The transactions were settled on October 23, 2024. As a result of the placement of DBK Eurobonds in US dollars, the applications of investors who submitted them through a subscription to KASE were satisfied in the amount of 116.4 million dollars. "This placement has become an important milestone for us in the international capital markets. We highly appreciate the trust placed in us by the Development Bank of Kazakhstan, and we are proud that we were able to justify this trust with a successful transaction. For us, this is not just a success – it is an important confirmation of our professionalism and reliability as a partner in international projects," commented Sanzhar Ospanov, Managing Director of Jusan Invest. The Eurobonds were listed on KASE and the Vienna Stock Exchange (Vienna MTF). *** JSC "Development Bank of Kazakhstan" is an institute for the development of the Republic of Kazakhstan, the purpose of which is to contribute to the sustainable growth of the national economy through investments in non—primary industries. The sole shareholder of the bank is JSC National Managing Holding Baiterek. Jusan Invest JSC is a leading broker in Kazakhstan offering a wide range of investment banking services. The company provides financial consulting, underwriting, brokerage services on KASE and AIX, as well as investment portfolio management. unquote [2024-10-23]