Kazmunaigas defies rough market on its own

29 Apr 2010

Kazakhstan’s Kazmunaigaz defied the bumpy market to sell a $1.5bn 10 year bond this week, the only emerging European borrower to land a deal.

The bond market refused to sit still over the week, reacting to downgrades of Greece to junk status, and Spain and Portugal by a notch. The choppy markets made it difficult for lead managers Citi, Credit Suisse and Royal Bank of Scotland to find appropriate pricing levels.

At ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial