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Development Bank of Kazakhstan JSC - Tender Offer 2024 (XS/US) - Final Results
Development Bank of Kazakhstan - Final Results of Tender Offers - XS2472852610, US48129VAA44 (BRKZe13) and XS2106835262 (BRKZe10)
01 MAY 2024
Full announcement including disclaimers and offer/distribution restrictions available via Lonse
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"Early Tender Results
As of 5:00 p.m., New York City time, on 15 April 2024 (the "USD Notes Early Tender Participation Deadline"), U.S.$163,154,000 in aggregate principal amount of outstanding USD Notes had been validly tendered and not withdrawn.
As of 5:00 p.m. Central European Summer Time, on 15 April 2024 (the "KZT Notes Early Tender Participation Deadline"), KZT 20,573,500,000 in aggregate principal amount of outstanding KZT Notes had been validly tendered and not withdrawn.
On 17 April 2024 (the "Early Settlement Date"), the Offeror accepted for purchase all USD Notes and all KZT Notes validly tendered and not withdrawn as at the relevant Early Tender Participation Deadline. Payment for the USD Notes and KZT Notes tendered at or prior to the relevant Early Tender Participation Deadline and accepted for purchase (comprising payment of the relevant Total Consideration and Accrued Interest) was made in U.S. Dollars on the Early Settlement Date.
Final Results
USD Notes Tender Offer
The USD Notes Tender Offer expired at 5:00 p.m., New York City time, on 30 April 2024 (the "USD Notes Expiration Deadline"). As of the USD Notes Expiration Deadline, U.S.$1,100,000 in additional aggregate principal amount of outstanding USD Notes had been tendered since the USD Notes Early Tender Participation Deadline.
The Offeror intends to accept all such USD Notes validly tendered for purchase. Payment for USD Notes tendered since the USD Notes Early Tender Participation Deadline and at or prior to the USD Notes Expiration Deadline and accepted for purchase (comprising payment of the USD Notes Tender Offer Consideration and Accrued Interest) will be made on 2 May 2024 (the "Final Settlement Date"). Following the Final Settlement Date, the remaining outstanding aggregate principal amount of the USD Notes is expected to be U.S.$335,746,000.
KZT Notes Tender Offer
The KZT Notes Tender Offer expired at 5:00 p.m., Central European Summer Time, on 30 April 2024 (the "KZT Notes Expiration Deadline"). As of the KZT Notes Expiration Deadline, no additional KZT Notes had been tendered since the KZT Notes Early Tender Participation Deadline, and the Offeror had not accepted any additional KZT Notes for purchase. Accordingly, as of the KZT Notes Expiration Deadline, the remaining outstanding aggregate principal amount of the KZT Notes is KZT 41,926,500,000."
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Development Bank of Kazakhstan provides update on tender applications received following end of deadline for accepting early-bird applications, as part of tender offer on Eurobonds XS2472852610, US48129VAA44 (BRKZe13) and XS2106835262 (BRKZe10)
16 APRIL 2024
Full announcement including disclaimers and offer/distribution restrictions available via KASE
"On April 2, 2024, Development Bank of Kazakhstan JSC (the "Offeror"), a joint- stock company established in the Republic of Kazakhstan, announced the commencement of a cash tender offer on all of its: (i) bonds with an interest rate of 5.75% per annum maturing in 2025 (the "US Dollar Bonds") issued by the Offeror (the "US Dollar Bonds Tender Offer"); and (ii) 10.75% per annum bonds maturing in 2025 (the "Tenge Bonds") issued by the Offeror (the "Tender Offer for the Tenge Bonds and, together with the Tender Offer for the US Dollar Bonds, "Tender Offers") from each Holder (as defined in the Offer to Purchase), on the terms and conditions set forth in the offer to purchase dated April 2, 2024 (the "Offer to Purchase"). Capitalized terms used but not defined herein, have the meanings set forth in the Offer to Purchase. Copies of the Offer to Purchase are available, subject to registration and verification of eligibility, on the Tender Offer Website: https://projects.morrowsodali.com/dbk
The Offeror is making Tender Offers in conjunction with offers of new Eurobonds (the "New Bonds Offers"), including new Eurodollar bonds issued under the Offeror's medium-term bond program (the "New US Dollar Bonds") and new Kazakh tenge-denominated Eurobonds issued under the Offeror's medium-term bond program (the "New Tenge Bonds" and, together with the New US Dollar Bonds, the "New Bonds"). The New Bond Offerings were closed on April 15, 2024 and, accordingly, the Financing Condition was fulfilled. Proceeds from the New Bonds Offering will be used to finance the Tender Offers. An amount equal to the proceeds from the New Tenge Bonds will be used in accordance with the Concept of Green and Sustainable Financing of Development Bank of Kazakhstan JSC published on the Offeror's website. The New Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended. The tender offers are not an offer to sell or a solicitation of an offer to buy any New Bonds. With respect to the New Bonds, no action has been taken or will be taken in any jurisdiction to permit a public offering of the securities."
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DEVELOPMENT BANK OF KAZAKHSTAN JSC ANNOUNCES A TENDER OFFER TO PURCHASE ALL ITS OUTSTANDING BONDS, WITH AN INTEREST RATE OF 5.75% APR MATURING IN 2025, AS WELL AS ALL ITS OUTSTANDING BONDS WITH AN INTEREST RATE OF 10.75% APR MATURING IN 2025 WITH PAYMENT OF INTEREST FOR PURCHASED BONDS IN US DOLLARS - XS2472852610, US48129VAA44 (BRKZe13) And XS2106835262
02 APRIL 2024
Full announcement including disclaimers and offer/distribution restrictions available via KASE
April 2, 2024 – Development Bank of Kazakhstan JSC (the "Offeror"), a joint- stock company incorporated in the Republic of Kazakhstan, announces the commencement of a cash offer to purchase all of its: (i) bonds with an interest rate of 5.75 % per annum due 2025 (the "US Dollar Bonds") issued by the Offeror (the "US Dollar Bonds Tender Offer"); and (ii) bonds with an interest rate of 10.75 % per annum due 2025 (the "Tenge Bonds") issued by the Offeror (the "Tenge Bonds Tender Offer, together with the US Dollar Bonds Tender Offer, "Tender Offers") from each Holder (as defined in the Tender Offer), on the terms and conditions set forth in the tender offer dated April 2, 2024 (the "Tender Offer"). Capitalized terms used but not defined herein, have the meanings set forth in the Tender Offer. Copies of the Tender Offer are available, subject to registration and verification of eligibility, on the Tender Offer Website: https://projects.morrowsodali.com/dbk.
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"The full version of the press release is posted - https://kase.kz/files/emitters/BRKZ/brkz_relizs_020424.pdf"
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(1) За каждую 1000 долларов США основной суммы долга по Облигациям в долларах США, правомерно поданных после истечения Срока приема ранних заявок по Облигациям в долларах США, но до истечения Срока Предложения о приобретении Облигаций в долларах США, и принятых к выкупу. (2) За каждую 1000 долларов США основной суммы долга по Облигациям в долларах США, правомерно поданных до истечения Срока приема ранних заявок по Облигациям в долларах США, и принятых к выкупу. (3) За каждую 1000 долларов США основной суммы долга, включающей Вознаграждение за предложение Облигаций в долларах США и Премию за ранее участие по Облигациям в долларах США. 4 (4) Исключая Начисленные Проценты, которые также будут выплачены. (5) За каждые 250 000 тенге основной суммы долга по Облигациям в тенге, правомерно поданных после истечения Срока приема ранних заявок по Облигациям в тенге, но до истечения Срока Предложения о приобретении Облигаций в тенге, и принятых к выкупу. Все платежи в отношении Тендерного предложения по Облигациям в тенге, будут выплачены в долларах США. Суммы в долларах США, подлежащие выплате, будут определены, как описано в разделе "Тендерные предложения - Вознаграждение - Расчет сумм в долларах США для Тендерного предложения по Облигациям в тенге" в Предложении о покупке. (6) За каждые 250 000 тенге основной суммы долга по Облигациям в тенге, правомерно поданных до истечения Срока приема ранних заявок по Облигациям в тенге, и принятых к выкупу. Все платежи в отношении Тендерного предложения по Облигациям в тенге, будут выплачены в долларах США. Суммы в долларах США, подлежащие выплате, будут определены, как описано в разделе "Тендерные предложения - Вознаграждение - Расчет сумм в долларах США для Тендерного предложения по Облигациям в тенге" в Предложении о покупке. (7) За каждые 250 000 тенге основной суммы долга, включающей Вознаграждение за предложение Облигаций в тенге и Премию за ранее участие по Облигациям в тенге. Все платежи в отношении Тендерного предложения по Облигациям в тенге, будут выплачены в долларах США. Суммы в долларах США, подлежащие выплате, будут определены, как описано в разделе "Тендерные предложения - Вознаграждение - Расчет сумм в долларах США для Тендерного предложения по Облигациям в тенге" в Предложении о покупке."
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