KE pays price for small sized $200m debut
Kazakhstan Engineering (KE) on Thursday morning opened books on its first ever bond deal. The deal was capped at $200m and the starting point offered a premium over sister company Sambruk Energy, which was necessary to compensate investors for the small size, said bankers away from the deal.
Leads Halyk Bank, UBS and VTB Capital approached investors with price guidance in the 4.5%-4.875% yield area guidance for the three year deal. By 5pm UK time the order book was fully covered and the leads planned to close the books at 9:30am today (Friday).
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