KazMunayGas

KazMunayGas and KazMunaiGaz Finance Sub B.V. have launched a cash buyback offer for outstanding bonds due April 24, 2030 (coupon 5.375%, volume $1.25 billion) of up to $500 million (40% of par). The offer period runs until September 18; early tenderers who tender by September 2 will receive $1,012 per $1,000 nominal (including a $30 early tender premium), later tenders $982, each plus accrued interest. KazMunayGas intends to finance the purchase with cash and to cancel all acquired bonds; the offer is not subject to a minimum tender condition, and in case of oversubscription tenders will be reduced pro rata with priority given to early tenderers. » More on de.investing.com

KazMunayGas and KazMunaiGaz Finance Sub B.V. report that their cash buyback offers for the 5.75% bonds (maturing 2047) and 6.375% bonds (maturing 2048), each with a maximum volume of USD 250 million, were heavily oversubscribed. By 5 December 2025 bonds with a face value of USD 429.6 million (2047) and USD 330.3 million (2048) had been tendered, so pro rata factors of 56.15% and 72.36% will apply. As a result, bonds worth around USD 250 million (2047) and USD 249.9 million (2048) will be accepted; early settlement is expected on 9 December 2025. Notes submitted after the deadline will not be purchased, the withdrawal period has expired, and Citigroup and J.P. Morgan are acting as dealer managers. » More on de.investing.com

KazMunayGas confirms talks with Lukoil regarding its assets in Kazakhstan but does not name specific assets or possible terms. No further details on the scope or a potential deal are currently available. » More on de.investing.com