Published: January 2, 2013
The tenge-dominated issuance was managed by Halyk Finance, which also acted as joint bookrunner.
The Eurasian Development Bank (EDB) has issued a KZT9.9bn (US$66mn), 5-year bond on the Kazakhstan Stock Exchange. It is the first tenge-denominated bond to be posted in Kazakhstan by an international organisation. Halyk Finance was sole lead manager of the auction, and shared underwriting duties with BCC Invest. The bond’s yield is 6.25%, the top end of the guidance range.
The EDB was founded by the governments of Russia and Kazakhstan in 2006, with the aim of promoting regional economic growth and integration. This debt, to which Moody’s assigned an A3 rating, is part of a Kazakh bond programme worth a total of US$998mn.