Baiterek Raises 60.5 Billion Tenge in Bonds at 15.90% Yield

National Investment Holding Baiterek conducted a specialized bond auction on the Kazakhstan Stock Exchange, placing five-year bonds worth 60.5 billion tenge. The notes, running from July 31, 2026 to July 31, 2031, were priced at a 15.90% annual yield, reflecting the current cost of borrowing for Kazakhstan's quasi-state sector. The relatively high coupon compared to bank deposits makes such bonds an attractive option for conservative investors seeking predictable tenge-denominated income. The placement is part of a broader wave of debt issuance by quasi-state institutions in recent weeks, underscoring strong demand for funding among the country's development institutions.