Middle East Economic Survey
KMG Begins Eurobond Road Show, Drops IPO Option
Kazakhstans state firm KazMunaiGaz (KMG) announced on 3 November that is has started a road show to sell $1.5bn in Eurobonds to investors in Europe, the US and Kazakhstan, within its program of issuing mid-term bonds worth a total of $7.5bn. Credit Suisse, the Royal Bank of Scotland and UBS Investment Bank have been appointed as joint lead managers for the Eurobond sale. Meanwhile,...