Kazakhstan offering Eurobonds worth $1.5 bln, indicative yield 4.87%

ASTANA. Oct 3 (Interfax) - Kazakhstan's Finance Ministry collecting bids on Thursday for $1.5 billion in Eurobonds, according to an announcement on the AIX exchange.

Book-building is taking place from 2:00 p.m. to 6:00 p.m. local time.

The face value of each bond is $200,000 and indicative coupon rate is 4.87%.The offering consists of 7,500 bonds.

Settlement is on October 7-8. The bonds mature in 10 years, according to the Finance Ministry.

BCC Invest, Citibank, J.P. Morgan, and Societe Generale CIB are joint coordinators and book-runners, with BCC Invest the lead manager.

Earlier reports said Kazakhstan would use the bond offering to "strengthen its foothold in global markets" and finance government development programs.

Kazakhstan has one 30-year international bond issue worth $1.5 billion, placed in July 2015, outstanding.