Kyrgyzstan's Finance Ministry planning debut issue of ruble bonds worth 1 billion rubles

BISHKEK. Dec 6 (Interfax) - The Kyrgyz Ministry of Finance plans to place a debut issue of bonds in Russian rubles worth 1 billion rubles on the Kyrgyz Stock Exchange (KSE) on December 15, Finance Minister Almaz Baketaev told Interfax.

The bonds will have a circulation period of 2 years and a coupon rate of 14.5% per annum.

"We have a cooperation agreement with Gazprombank. One of the points concerns the placement of bonds. On December 5 in Moscow, we held a meeting with 40 Russian investors on planned bond issues. We will conduct the placement through the Kyrgyz Stock Exchange in order to give it a push. The issue of bonds in rubles can create a precedent for placing government bonds on the KSE in different currencies to diversify sources of financing and expand the circle of investors," Baketaev noted.

The country's Ministry of Finance began placing government securities on the Kyrgyz Stock Exchange for the first time in May 2023.