KASE to Launch Trading in New Baiterek Eurobonds on August 31

Starting August 31, 2026, the main KASE platform will open trading in two international bond issues from Baiterek National Investment Holding — BTRKe4 and BTRKe5. The first issue, worth 150 billion tenge, runs from April 2026 to April 2029 with a semi-annual coupon of about 16.95% per year, while the second, worth 100 billion tenge, matures in April 2031 with a rate near 16.9%. The high yield from this quasi-sovereign issuer could attract conservative investors seeking a combination of relative safety and elevated rates amid Kazakhstan's current monetary policy environment. The new issues expand the local debt instrument lineup and may influence pricing for comparable quasi-sovereign bonds. Investors should pay attention to coupon income taxation rules and secondary market liquidity for these securities.