Function supervisor
Aya Aldabergenova
Research analyst «Tsesna Capital» JSC
+7 (7172) 472-552
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Eurobonds

If you represent a large business and you have plans to attract more than 100 million US dollars, then we are ready to offer you unique terms for attracting long term financing (starting from three years) on international stock markets.
Like no other, we will not only assess the readiness of your company to issue, for example, Eurobonds, but also prepare it for a successful issue, by rendering rating advisory services with basic elements of IR, and we will help you choose the best partners for your transaction (legal advisers, lead manager, the auditor and others, if necessary).
Tsesna Capital offers the services of joint lead manager for issuing Eurobonds on following international stock markets:

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5 Advantages of issuing Eurobond:
 

  • Lower borrowing costs - on average of -8-10% compared to the local market.
  • Possibility to attract greater amounts of funds for long periods;
  • Absence of collateral
  • Building of international reputation and credit history with possibility to reduce the borrowing costs in capital markets in future and access to the IPO;
  • Flexibility in liability management (the ability to buy back at a discount rate, etc.).
     

Credit Linked Notes (CLN)

One of the attractive schemes for issuing Eurobonds by Kazakhstani companies is the issue of bonds (credit linked notes) by an international bank with a high credit rating with the transfer of money received from the issue to the borrower under a loan agreement.

The advantages of organizing of CLN include:

  • transaction significantly shorter compared with eurobonds and tenge bonds,
  • no strict requirements for the borrower's financial statements and disclosure,
  • credit ratings not compulsory, but their availability can reduce the cost of borrowing,
  • small commission fees,
  • credit notes can give a start to the establishment of an international credit history to the borrower.
     
International borrowing with Tsesna Capital – a step forward to the new level of development!

 

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