BAKU, Azerbaijan, August 27. International
rating agency Moody's Ratings has assigned a "Baa1" rating to the
planned issuances of unsecured Chinese yuan-denominated bonds by
KazMunayGas National Company JSC (KMG), according to the KMG's
statement.
The Astana International Exchange (AIX) conducted the
book-building process for two tranches of KMG's yuan-denominated
Eurobonds on August 26, 2026.
The placement comprises a 5-year tranche maturing on September
2, 2031, with initial pricing guidance in the 2.95% area, and a
10-year tranche maturing on September 2, 2036, with initial pricing
guidance in the 3.45% area.
Both bond issues are expected to be listed on the Hong Kong
Stock Exchange and the Astana International Exchange, with the
settlement scheduled for September 2, 2026. Halyk Finance acts as
the AIX lead manager for the transaction.
KMG maintains issuer credit ratings of "Baa1" from Moody's,
"BBB-" from S&P Global Ratings, and "BBB" from Fitch Ratings,
all with a stable outlook.
KazMunayGas is Kazakhstan's leading vertically integrated oil
and gas company, managing assets across the entire production
cycle, from hydrocarbon exploration and production to
transportation, refining and specialized services. Founded in 2002,
the company represents Kazakhstan's interests in the country's oil
and gas sector.
