HALYK FINANCE JSC NOTIFIES ABOUT FINAL PRICE BENCHMARK AND EXTENDING THE TIME FOR ACCEPTING THE ORDERS FOR PARTICIPATION IN ADDITIONAL PLACEMENT OF DOLLAR EUROBONDS XS3032932645 (BRKZe18) OF DEVELOPMENT BANK OF KAZAKHSTAN JSC
26.06.25 18:39
/KASE, June 26, 2025/ – Halyk Bank Subsidiary Halyk Finance JSC (in the title –
Halyk Finance JSC) as a joint bookrunner provided the Kazakhstan Stock
Exchange (KASE) with a following notification:
beginning of quote
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, DIRECTLY OR THROUGH INTERMEDIARIES, IN WHOLE OR
IN PART, IN THE UNITED STATES OF AMERICA, EXCEPT FOR QUALIFIED
INSTITUTIONAL BUYERS (QIBs) WHO ARE ALSO THE QUALIFIED
PURCHASERS (QPs) (AS DEFINED BELOW), CANADA, AUSTRALIA OR
JAPAN
THIS ANNOUNCEMENT IS NOT INTENDED FOR DISTRIBUTION TO THE
PUBLIC AND IS ADDRESSED ONLY TO MEMBERS OF KAZAKHSTAN
STOCK EXCHANGE JSC. THIS ANNOUNCEMENT IS NOT AN
ADVERTISEMENT OF SECURITIES
Halyk Finance JSC hereby announces extension of time for accepting the orders
from members of Kazakhstan Stock Exchange JSC for participation in additional
placement of bonds of Development Bank of Kazakhstan JSC (the Issuer),
issued in accordance with legislation of a foreign state (hereinafter, the
Eurobonds).
All orders from investors are accepted through the Subscription trading system
on KASE (ticker - BRKZe18_).
Acceptance of orders from potential investors through the Subscription trading
system on KASE begins simultaneously with the start of placement of the
Eurobonds in the territory of a foreign state, under the same conditions for
placement of the Eurobonds (including conditions for determining the price of
their placement) as when they are placed in the territory of a foreign state.
Joint Bookrunners: Citi, Halyk Finance, Societe Generale
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EUROBONDS PARAMETERS:
------------------------------------ ---------------------------------------------------------------
Issuer name: Development Bank of Kazakhstan JSC
Issuer ratings: Baa1 (stable) / BBB- (stable) / BBB
(stable) from Moody’s / S&P / Fitch
Eurobond issue ratings: BBB- (S&P) / BBB (Fitch)
Parameters of the placed issue brief description of Eurobonds: Eurobonds
of Eurobonds: of senior unsecured debt issued
under the English law and placed
in accordance with Rule 144A
and Regulation S
nominal volume of the Eurobond issue -
500 mln US dollars
coupon rate - 5.625% per annum with payments
every 6 months
issue date - April 7, 2025
maturity date - April 7, 2030
ISIN: XS3032932645, US48129VAD82
Parameters of additional placement
of Eurobonds:
Expected nominal volume of Will be determined after collection of orders
additional placement of Eurobonds:
Currency of additional placement US dollar
of Eurobonds:
ISIN for additional issue XS3108433858 (temporary ISIN for a period of 40 days
(additional placement) of Eurobonds: from the Settlement Date for additional placement of Eurobonds)
Settlement currency: All settlements on Eurobonds (including settlements
at additional placement, coupon and
principal payments are made in US dollars)
Denomination: 200,000 (two hundred thousand) US dollars or a greater
amount multiple of 1,000 (one thousand) US dollars
Applicable law: English law
Listing: Kazakhstan Stock Exchange JSC and Vienna MTF
Clearing settlement: Euroclear / Clearstream
Intended purpose: General corporate goals
Yield to maturity on determined after collecting the orders
additional placement of Eurobonds: from investors. Final price/yield to maturity benchmark
during additional placement
of Eurobonds – Clean price 100.25% of
the face value of Eurobonds / yield
to maturity of Eurobonds is 5.562% per annum,
including accumulated coupon interest
from (including) April 7, 2025, to (but excluding)
the Settlement Date for additional placement of Eurobonds
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PROCEDURE FOR OFFERING THE EUROBONDS FOR PURCHASE IN KAZAKHSTAN:
----------------------------------------------------------------------------------------------------
Order acceptance day: June 26, 2025
Order acceptance start time: 14:00 Almaty time
Order acceptance end time: 19:00 Almaty time
Expected date for determining June 26, 2025 (London time)
the price and volume of executed
investor orders:
Expected Settlement Date for July 3, 2025 (Т+5)
additional placement of Eurobonds: Settlement for additional placement
are made in US dollars
Order price: The clean price is indicated, expressed as percentage
per annum. In case of submission of market orders,
the price value is not specified.
Order volume: Order volumes must be specified in
US Dollars. Minimum order volume – 200,000 (two hundred
thousand) US dollars or a greater amount multiple
of 1,000 (one thousand) US dollars
----------------------------------------------------------------------------------------------------
Conditions of Eurobonds settlement:
1. If a submitted purchase order is executed, the responsibility for delivery of
money to the CCP's account in the CD no later than 18:00 on July 2, 2025 (T+4)
lies with the trading participant that submitted the purchase order.
2. The buyer is responsible for accuracy of the information specified in the
buyer's order, including in terms of meeting the criteria.
3. By submitting a purchase order, a trading participant thus confirms
availability of money on the CCP's account in the CD or agrees to blocking by
the CCP of the single-limit collateral with subsequent delivery of money by the
trading participant to the CCP's account in the CD no later than 16:00 on July
2, 2025 (T+4) if the submitted purchase order is executed.
Please note that the additionally issued bonds have been assigned a temporary
ISIN, different from the ISIN assigned in April 2025 to the initial placement
Eurobonds totaling 500 mln US dollars, and valid for 40 days from the date of
additional placement of the Eurobonds (July 3, 2025). Development Bank of
Kazakhstan JSC, based on opinion of its legal adviser, informed KASE that
assignment of a temporary ISIN is required under the applicable US securities
laws to distinguish the additionally issued Eurobonds, which US investors cannot
purchase for 40 days after the issue date, from the originally issued bonds.
After this 40-day period, the additionally issued Eurobonds will be combined
with the initially placed Eurobonds and all Eurobonds, regardless of their
issue date, will be traded under the same ISIN assigned to the initially placed
Eurobonds.
For all questions and additional information please contact the representatives
of Halyk Finance JSC using the following contact details: 7 (727) 339-43-77/88
(ext. 3373, 3327, 3448, 3419), ib@halykfinance.kz.
THE PRODUCER'S TARGET MARKET (IN ACCORDANCE WITH UK MIFIR) IS
EXCLUSIVELY THE QUALIFIED COUNTERPARTIES AND PROFESSIONAL
CUSTOMERS (ALL DISTRIBUTION CHANNELS). NO KEY INFORMATION
DOCUMENT HAS BEEN PREPARED IN THE EUROPEAN ECONOMIC AREA
OR THE UK ON PACKAGED RETAIL AND INSURANCE-BASED INVESTMENT
PRODUCTS (PRIIPS) AS THE EUROBONDS ARE NOT AVAILABLE TO THE
RETAIL SEGMENT IN THE EUROPEAN ECONOMIC AREA OR THE UK.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF
SECURITIES FOR SALE IN ANY JURISDICTION WHERE IT IS UNLAWFUL.
THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED
UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
SECURITIES ACT) OR THE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES OR OTHER JURISDICTION, AND THE SECURITIES MAY
NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, FOR THE
ACCOUNT OR BENEFIT OF, THE U.S. PERSONS (AS DEFINED IN
REGULATION S OF THE SECURITIES ACT), EXCEPT FOR CASES
COVERED BY EXEMPTION FROM REQUIREMENTS OF THE SECURITIES
ACT AND APPLICABLE LAWS OF OTHER JURISDICTIONS, OR IN
TRANSACTIONS NOT SUBJECT TO THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND APPLICABLE LAWS OF OTHER
JURISDICTIONS. THE SECURITIES WILL BE OFFERED FOR SALE IN THE
UNITED STATES ONLY TO THE QUALIFIED INSTITUTIONAL BUYERS
(QIBs), AS DEFINED IN AND PURSUANT TO RULE 144A OF THE
SECURITIES ACT, THAT ARE ALSO THE QUALIFIED PURCHASERS (QPs),
AS DEFINED IN SECTION 2(A)(51) OF THE SECURITIES ACT. THE U.S.
INVESTMENT COMPANY ACT OF 1940, AS AMENDED, AND WILL BE
OFFERED FOR SALE ONLY OUTSIDE THE UNITED STATES TO NON-U.S.
CITIZENS IN COMPLIANCE WITH REGULATION S OF THE U.S. SECURITIES
ACT OF 1933, AS AMENDED.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR
ISSUE THE SECURITIES OR AN OFFER TO BUY, AND THE SECURITIES
REFERRED TO HEREIN MAY NOT BE SOLD IN ANY JURISDICTION IN
WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL PRIOR TO
REGISTRATION, EXEMPTION FROM REGISTRATION OR QUALIFICATION
UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE
OFFERING AND DISTRIBUTION OF THIS ANNOUNCEMENT AND OTHER
INFORMATION REFERRED TO HEREIN MAY BE RESTRICTED BY LAW, AND
PERSONS RECEIVING INTO POSSESSION THIS ANNOUNCEMENT OR
SUCH OTHER INFORMATION SHOULD INFORM THEMSELVES OF THE
RELEVANT RESTRICTIONS AND OBSERVE SUCH RESTRICTIONS.
FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A
VIOLATION OF SECURITIES LAWS IN ANY SUCH JURISDICTION.
THIS ANNOUNCEMENT IS INTENDED ONLY FOR PERSONS THAT (A) ARE
OUTSIDE THE UK OR (B) PERSONS WITHIN THE UK THAT ARE (I)
PERSONS WITH PROFESSIONAL EXPERIENCE IN MATTERS RELATED TO
INVESTMENTS SUBJECT TO ARTICLE 19(5) OF THE FINANCIAL SERVICES
AND MARKETS ACT OF 2000 (FINANCIAL INCENTIVES) ORDER 2005, AS
AMENDED (THE ORDER), (II) HIGH NET WORTH COMPANIES AND OTHER
PERSONS TO WHICH IT MAY LAWFULLY BE COMMUNICATED, SUBJECT
TO ARTICLE 49(2)(A)-(D) OF THE ORDER OR (III) PERSONS TO WHOM AN
INVITATION OR ENCOURAGEMENT TO PARTICIPATE IN INVESTMENT
ACTIVITIES (WITHIN THE MEANING OF ARTICLE 21 OF THE FINANCIAL
SERVICES AND MARKETS ACT OF 2000) MAY OTHERWISE LAWFULLY BE
COMMUNICATED OR CAUSED TO BE COMMUNICATED (ALL SUCH
PERSONS IN PARAGRAPHS (I), (II) AND (III) ABOVE ARE THE RELEVANT
PERSONS). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT
ACT ON OR RELY ON THIS ANNOUNCEMENT. ANY INVESTMENT OR
INVESTMENT ACTIVITIES TO WHICH THIS ANNOUNCEMENT RELATES
ARE AVAILABLE ONLY TO THE RELEVANT PERSONS AND WILL ONLY BE
ENGAGED IN WITH THE RELEVANT PERSONS.
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA, THIS
ANNOUNCEMENT IS ONLY INTENDED FOR PERSONS THAT ARE
QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS
REGULATION (REGULATION (EU) 2017/1129). THIS ANNOUNCEMENT
DOES NOT CONSTITUTE AN ADVERTISEMENT OR A SECURITIES
PROSPECTUS FOR REGULATORY PURPOSES.
SINGAPORE SFA PRODUCT CLASSIFICATION: THE ISSUER HAS
DETERMINED AND HEREBY NOTIFIES ALL RELEVANT PERSONS (AS
DEFINED IN SECTION 309A(1) OF SFA) THAT THE SECURITIES REFERRED
TO HEREIN ARE "PRESCRIBED CAPITAL MARKETS PRODUCTS" (AS
DEFINED IN THE SECURITIES AND FUTURES (CAPITAL MARKETS
PRODUCTS) RULES OF 2018 OF SINGAPORE) AND EXCLUDE
INVESTMENT PRODUCTS (AS DEFINED IN THE MONETARY AUTHORITY
OF SINGAPORE NOTICE SFA 04-N12: INVESTMENT PRODUCT SALE
NOTICE AND MAS NOTICE FAA-N16: NOTICE OF INVESTMENT PRODUCT
RECOMMENDATIONS).
A RATING DOES NOT CONSTITUTE A RECOMMENDATION TO PURCHASE,
SELL OR HOLD SECURITIES AND MAY BE REVISED, SUSPENDED OR
WITHDRAWN AT ANY TIME BY THE RATING ORGANIZATION. SIMILAR
RATINGS FOR DIFFERENT TYPES OF ISSUERS AND FOR DIFFERENT
TYPES OF SECURITIES DO NOT NECESSARILY MEAN THE SAME THING.
THE MEANING OF EACH RATING SHOULD BE ANALYZED
INDEPENDENTLY OF ANY OTHER RATING.
end of quote
[2025-06-26]