ERG's KAS supports aluminum operations through new bond issuance
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Update time : 2025-06-09 15:59:10
Eurasian Resources Group (ERG), a diversified natural resources group headquartered in Luxembourg, has announced the issuance of up to US$100 million in guaranteed coupon bonds on the Kazakhstan Stock Exchange (KASE). These three-year bonds, the first non-government bonds regulated by Kazakh law to be guaranteed by the Development Bank of Kazakhstan, mark a new era for ERG's financing.
Issued by ERG's Kazakhstan Aluminium Smelter (KAS), the country's sole primary high-grade aluminum producer, the bonds have a nominal value of US$1,000 each and carry an investment-grade Baa1 rating from Moody's.
The funds will support KAS's operations, raw material procurement, and electricity supplies, upholding its over 90% Kazakh content and 2,000 jobs. This move, according to ERG CEO Shukhrat Ibragimov, diversifies financing and supports long-term growth.
