First Kazakhstan bonds with floating interest rates linked to TONIA. Issue volume of ₸12.5 billion ($29.2M equivalent) with 3-year maturity. A groundbreaking instrument enabling medium/long-term issuance without refinancing requirements.
Category
CAPITAL MARKETS
Date
November 9, 2021
First transaction in Kazakhstan history where a local investment bank served as sole manager for an international bond buyback. Buyback volume of $53 million for Borets Holding with settlement through Clearstream and Euroclear.
Acted as underwriter and financial consultant for EBRD debt funding of ₸33.5 billion linked to TONIA with a coupon of TONIA+0% for a 3-year term. Strong investor demand demonstrated in the benchmark placement.
Landmark benchmark placement of EBRD TONIA-linked bonds worth $110 million equivalent. First floating-rate instruments indexed to TONIA in Kazakhstan, protecting investors from interest rate risk with near-zero duration.