Baiterek Holding's bonds valued at 190 billion tenge now listed on KASE

On January 26, 2024, Baiterek National Management Holding ("BBB", "Baa2") successfully placed tenge bonds totaling 190 billion tenge with a maturity period of 15 years on the Kazakhstan Stock Exchange (KASE) trading platform.

These bonds, offered to a wide array of investors, garnered significant demand, reaching 109% by the end of the auction. The weighted average market yield stood at 13% per annum. The auction saw participation from 10 investors.

Amidst declining market rates, investing in Baiterek Holding's bonds enabled investors to secure long-term profitability while upholding investment quality in a safe instrument with a country-level rating.

This placement will enable the Holding to finance projects aimed at enhancing transport infrastructure, particularly in updating the aging fleet of passenger and freight cars.

– The advancement of transport infrastructure stands as a cornerstone for economic growth. The execution of these projects promises a notable upsurge in freight traffic volume, fostering the expansion of the nation's transit capabilities. By enhancing the safety and quality standards of socially vital passenger transportation, we are systematically tackling the challenges of scarcity and deterioration within the country's transport system, – stated Nurlan Baibazarov, Chairman of the Board of Baiterek Holding.

The cars will be acquired through leasing financing programs administered by a subsidiary of the Development Bank of Kazakhstan, the Industrial Development Fund.