The Kyrgyz Republic today, May 28, announced the successful debut placement of sovereign Eurobonds on international financial markets. The volume of the issue amounted to $700 million with a circulation term of five years and a coupon rate of 7.75 percent. The press service of the Ministry of Finance reported.
Demand from investors at the peak reached more than $2.1 billion, which led to oversubscription, exceeding the final volume of the transaction three times. More than 100 international investors representing the UK, the U.S., Europe and Asia took part in the placement.
As noted, the proceeds are planned to be used for attracting long-term resources to develop infrastructure, the energy sector, and to enhance the overall resilience of public finances.