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TEXT 12 

 

Bishkek set to issue USD 200-300 mln Eurobond 

 

Reports from the Russian news agency Novecon on June 5 say that 

Kyrgyzstan intends to place between USD 200 and USD 300 million worth 

of Eurobonds on Western stock exchanges towards the beginning of next 

year. The announcement by Kyrgyz President said that coupon payments on 

the bonds are to be set at 11. 75 percent annually and the maturity date will 

be on June 10, 2003. A manager for the project will be selected after the 

government holds consultations with international financial institutions, the 

agency reported. In preparation for the Eurobond issue, the country has 

privatized 10,000 companies and is successfully restructuring some of its 

industries Industrial production growth in Kyrgyzstan has been the highest 

to date among all CIS countries. Last year, production nearly doubled from 

the previous year. Kyrgyz President announced that the country will soon 

receive USD 600 million in new loans for 40 years at 0.75 percent-1.5 

percent interest. Another USD 400 million will be provided to Kumtor, a 

Canadian-Kyrgyz gold-mining company Last year, Kumtor's miners pro-

duced 17 tons of gold and are planning to raise production to between 18 

and 20 tons this year. Therefore, the president does not anticipate any 

hitches in the payment of interest on loans.