Kazakhstan to consider issuing Eurobonds for at least $1 billion in 2014
ASTANA. July 1 (Interfax) - Kazakhstan's finance ministry is considering the possibility of issuing Eurobonds worth no less than $1 billion by year-end, Kuat Akizhanov, director of the State Borrowings Department of the Finance Ministry, has said.
The ministry announced a contest to select underwriters from among banks and a legal adviser and it will take up 1.5 to 2 months, Akizhanov said in an interview with Interfax, though he added that a final decision had not yet been made.
"Even if we bring in possible bankers, underwriters and a legal consultant and sign the corresponding agreement with them, this still does not mean that the Finance Ministry will automatically issue without fail. This will depend on the Finance Ministry's demands and on the situation on foreign capital markets," he said.
The deadline is likely to be this autumn and as for the size, investors take interest when it exceeds $1 billion and it will be no less than $1 billion, he said. The exact amount, however, can be determined only after finishing the tender, Akizhanov added.
