Baiterek Successfully Places New $500 Million Long-Term Eurobond Issue

Baiterek National Management Holding has successfully completed the placement of a new Eurobond issue totaling $500 million with a 7-year maturity.

On April 27, 2026, the Holding announced the launch of a marketing campaign in the format of an international roadshow, taking advantage of favorable global capital market conditions and steady investor demand for debt instruments from Kazakhstani issuers.

Following meetings with investors on April 28, 2026, the order book was opened, demonstrating high interest from the international institutional investment community. The order book was oversubscribed by more than 1.6 times, with participation from asset management companies, banks, insurance companies, and pension funds from the USA, the UK, Continental Europe, and Asia.

Strong demand made it possible to secure optimal transaction parameters. The final coupon rate was set at 5.20% per annum.

The organizers of the issue were Citi Group, Societe Generale, and Halyk Finance. The Eurobonds are listed on the Vienna Stock Exchange (Wiener Börse AG) and the Kazakhstan Stock Exchange (KASE).

This issue became the longest-term in the history of the Holding's external borrowings and allowed for an increase in the duration of the debt portfolio.

This is Baiterek's third successful Eurobond placement on international capital markets, confirming steady investor interest in the credit quality of Kazakhstani issuers.

The raised funds will be used to finance strategically significant projects contributing to the development of priority sectors of the economy of the Republic of Kazakhstan.