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Kazakhstan to issue Eurobonds

28 february 2014, 16:50
©Marat Abilov
©Marat Abilov
The Finance Ministry of Kazakhstan is planning to issue eurobonds in 2014, Tengrinews reports citing the Deputy Prime-Minister, Minister of Finance of Kazakhstan Bakhyt Sultanov.

"We are going to issue eurobonds to the external markets this year to reduce pressure at Kazakhstan's domestic market. This will be the first issue of the Eurobonds over the past 13 years. It will become a benchmark for Kazakhstan-based companies wanting to attract foreign capital, and will help reduce the cost of borrowing," Bakhyt Sulanov said at yesterday's meeting of the Ministry.

In the meanwhile, the Ministry is closely monitoring debt management of quasi-public sector to ensure economic security.

A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world - for example in Singapore or Tokyo.

By Altynai Zhumzhumina

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