Baiterek Launches $500 Million Eurobond Trading on KASE

The Kazakhstan Stock Exchange announced the launch of trading for a new $500 million international bond issue from national holding company Baiterek. The notes have a seven-year maturity, due in May 2033, with a coupon fixed at 5.2% per year paid semi-annually. Alongside the dollar-denominated tranche, the exchange is also opening trading for two tenge-denominated Baiterek bond issues carrying higher rates aimed at the local market. The new issuance expands the range of fixed-income instruments available to Kazakhstani investors seeking currency diversification in their portfolios. Baiterek is one of the country's largest quasi-sovereign borrowers, making its bonds attractive to conservative investors.