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KazMunayGas launches $500M tender offer for 2030 notes

KazMunayGas seeks to repurchase up to $500 million of its 5.375% notes due 2030, offering $1,012 per $1,000 principal for early tenders. The offer targets 40% of the $1.25 billion outstanding issue.

Rédaction Marchés · 20 Aug 2026 · 17:49 · 1 min de lecture
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KazMunayGas launches $500M tender offer for 2030 notes
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KazMunayGas National Company Joint-Stock Company and its financing subsidiary KazMunaiGaz Finance Sub B.V. launched a tender offer to repurchase up to $500 million of its outstanding 5.375% notes due April 24, 2030.

The offer, managed by Citigroup Global Markets Limited and J.P. Morgan Securities plc, aims to acquire notes representing 40% of the total outstanding principal of $1.25 billion. Early tender consideration is set at $1,012 per $1,000 principal amount, including a $30 early tender payment. Late tenders submitted after the early deadline but before expiration will receive $982 per $1,000 principal.

Both consideration amounts exclude accrued interest, which will be paid separately. The tender offer is not conditional on a minimum principal amount of notes being tendered. Notes submitted by the early deadline will receive priority, while proration may apply if the total validly tendered principal exceeds the $500 million cap.

The company plans to fund the purchase with existing cash reserves and intends to cancel all acquired notes. Kroll Issuer Services Limited serves as the tender and information agent.

The early tender deadline and withdrawal deadline are set for September 2, 2026, at 5:00 p.m. New York time, with early settlement expected on September 4. The offer expires on September 18, 2026, unless extended or terminated, with final settlement anticipated on September 22.

Cet article a été produit avec l'assistance de l'IA par le desk marchés de Finance Review Daily.
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