Prospectus of International Bonds (Ktgae1)
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PROSPECTUS JSC KAZTRANSGAS AIMAK (incorporated in the Republic of Kazakhstan) KZT 30,500,000,000 Medium Term Note Programme Under this KZT 30,500,000,000 Medium Term Note Programme (the “Programme”), JSC KazTransGas Aimak (the “Issuer”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the Issuer and the relevant Dealer (as defined below). Notes will be issued in registered form. The maximum aggregate nominal amount of all Notes from time to time outstanding under the Programme will not exceed KZT 30,500,000,000 (or its equivalent in other currencies calculated as described in the Programme Agreement described herein), subject to increase as described herein. The Notes may be issued on a continuing basis to one or more of the Dealers specified under “Overview of the Programme” and any additional Dealer appointed under the Programme from time to time by the Issuer (each a “Dealer” and together the “Dealers”), which appointment may be for a specific issue or on an ongoing basis. References in this prospectus (the “Prospectus”) to the “relevant Dealer” shall, in the case of an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to all Dealers agreeing to subscribe such Notes. An investment in Notes issued under the Programme involves certain risks. For a discussion of these risks see “Risk Factors”. The Issuer will use its reasonable endeavours to cause all the Notes to be admitted to the “debt securities of the subjects of the quasi state sector” category of the “debt securities” sector of the official list of the Kazakhstan Stock Exchange (the “KASE”). In addition, no Notes may be issued, placed or listed outside of Kazakhstan without the prior permits of the National Bank of the Republic of Kazakhstan (the “NBK”) for issuance and placement of the Notes outside of Kazakhstan (the “NBK Permits”) References in this Prospectus to Notes being “listed” (and all related references) shall mean that such Notes have been admitted to trading to the “debt securities of the subjects of the quasi state sector” category of the “debt securities” sector of the official list of the KASE. The Programme provides that Notes may be listed or admitted to trading, as the case may be, on such other or further stock exchanges or markets as may be agreed between the Issuer and the relevant Dealer. The Issuer may also issue unlisted Notes and/or Notes not admitted to trading on any market. The relevant final terms in respect of the issue of any Notes will specify whether or not such Notes have been admitted to trading on such other stock exchange as may be agreed between the Issuer and the relevant Dealer. The Issuer may agree with any Dealer that Notes may be issued in a form or with terms and conditions not contemplated by the Terms and Conditions of the Notes herein, in which event a supplemental Prospectus, if appropriate, will be made available which will describe the effect of the agreement reached in relation to such Notes. The Issuer has been assigned long term issuer rating of BBB- and short term issuer rating F3 by Fitch Ratings Ltd (“Fitch”). Notes issued under the Programme may be rated or unrated by the rating agency referred to above. Where a Tranche of Notes is rated, such rating will be disclosed in the Pricing Supplement and will not necessarily be the same as the rating assigned to the Programme by the relevant rating agency. A security rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. Arrangers JSC Private Asset Management MeritKapital Limited Dealers JSC Private Asset Management MeritKapital Limited The date of this Prospectus is 3 August 2015 EMEA 100426271 The purpose of this Prospectus is to give information with regard to the Issuer and each Tranche of Notes issued under the Prospectus that, according to the particular nature of the Issuer and the relevant Tranche of Notes, is necessary to enable investors to make an informed assessment of the assets and liabilities, financial position, profit and losses and prospects of the Issuer and of the rights attaching to the relevant Tranche of Notes. The Issuer, accept(s) responsibility for the information contained in this Prospectus. To the best of the knowledge (having taken all reasonable care to ensure that such is the case) of the Issuer, the information contained in this Prospectus is in accordance with the facts and does not omit anything likely to affect the import of such information. This Prospectus is not a prospectus for the purpose of Article 5 of Directive 2003/71/EC as amended by Directive 2010/73/EU as implemented in member states of the European Economic Area (the “Prospectus Directive”). This Prospectus has been prepared on the basis that all offers of Notes issued under the Programme made to persons in the European Economic Area will be made pursuant to an exemption under the Prospectus Directive from the requirement to produce a prospectus in connection with offers of the Notes. This Prospectus should be read and construed together with any amendments or supplements hereto and, in relation to any Series of Notes, should be read and construed together with the relevant Pricing Supplement. Copies of the Pricing Supplements will be available from the registered office of the Issuer and the specified office set out below of the Principal Paying Agent (as defined below). The Arrangers, the Dealers, the Trustee and the Agents have not independently verified the information contained herein. Accordingly, no representation, warranty or undertaking, express or implied, is made and no responsibility or liability is accepted by the Arrangers or the Dealers as to the accuracy or completeness of the information contained in this Prospectus or any other information provided by the Issuer in connection with the Programme. None of the Arrangers, the Dealers, the Trustee nor the Agents accepts any liability in relation to the information contained in this Prospectus or any other information provided by the Issuer in connection with the Programme. No person is or has been authorised by the Issuer to give any information or to make any representation not contained in or not consistent with this Prospectus or any other information supplied in connection with the Programme or the Notes and, if given or made, such information or representation must not be relied upon as having been authorised by the Issuer or any of the Arrangers or Dealers. Neither this Prospectus nor any other information supplied in connection with the Programme or any Notes (a) is intended to provide the basis of any credit or other evaluation or (b) should be considered as a recommendation by the Issuer or any of the Arrangers or Dealers that any recipient of this Prospectus or any other information supplied in connection with the Programme or any Notes should purchase any Notes. Each investor contemplating purchasing any Notes should make its own independent investigation of the financial condition and affairs, and its own appraisal of the creditworthiness, of the Issuer. Neither this Prospectus nor any other information supplied in connection with the Programme or the issue of any Notes constitutes an offer or invitation by or on behalf of the Issuer or any of the Arrangers or Dealers to any person to subscribe for or to purchase any Notes. Neither the delivery of this Prospectus nor the offering, sale or delivery of any Notes shall in any circumstances imply that the information contained herein concerning the Issuer is correct at any time subsequent to the date hereof or that any other information supplied in connection with the Programme is correct as of any time subsequent to the date indicated in the document EMEA 100426271 (i) containing the same. The Arrangers and the Dealers expressly do not undertake to review the financial condition or affairs of the Issuer during the life of the Programme or to advise any investor in the Notes of any information coming to their attention. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”). Subject to certain exceptions, Notes may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (see “Subscription and Sale”). This Prospectus does not constitute an offer to sell or the solicitation of an offer to buy any Notes in any jurisdiction to any person to whom it is unlawful to make the offer or solicitation in such jurisdiction. The distribution of this Prospectus and the offer or sale of Notes may be restricted by law in certain jurisdictions. This Prospectus may not be used for, or in connection with, and does not constitute, any offer to, or solicitation by, anyone in any jurisdiction or under any circumstance in which such offer or solicitation is not authorised or is unlawful. The Issuer and the Arrangers and Dealers do not represent that this Prospectus may be lawfully distributed, or that any Notes may be lawfully offered, in compliance with any applicable registration or other requirements in any such jurisdiction, or pursuant to an exemption available thereunder, or assume any responsibility for facilitating any such distribution or offering. In particular, no action has been taken by the Issuer or the Arrangers or Dealers which is intended to permit a public offering of any Notes or distribution of this Prospectus in any jurisdiction where action for that purpose is required.