/KASE, July 4, 2025/ – Development Bank of Kazakhstan JSC (KASE ticker – BRKZ) has announced the following:

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July 3, 2025

Development Bank of Kazakhstan JSC (a subsidiary of "Baiterek" NMH JSC, hereinafter referred to as DBK, the Bank) has successfully placed Eurobonds on the international capital markets: additional placement of Eurobonds in US dollars and a new issue denominated in tenge.

As part of the additional placement of Eurobonds of the 17th tranche (the first issue is in April 2025), the Bank placed an additional volume of 200 million US dollars with a maturity until April 2030 and a yield of 5.562%. The coupon rate is 5.625%. The geography of investors is represented by the UK (34%), Kazakhstan (26%), Europe (28%), the USA (11%) and the Middle East (1%).

At the same time, the Bank carried out a new issue of Eurobonds denominated in tenge – the 18th tranche – in the amount of 55 billion tenge with a maturity of 3 years. The coupon rate and yield at placement were 17.3%. Investors in this issue included a wide range of participants from Kazakhstan (32%), the United States (31%), the Middle East (14%), the United Kingdom (11%), and Europe (12%).

The funds raised will be used to finance a number of projects in the fields of renewable energy, infrastructure and manufacturing.

The Eurobonds were successfully placed due to favorable market conditions, high liquidity, and strong investor interest. At its peak, the order book exceeded the offering size by 1.3 times for the USD tranche and by 1.1 times for the tenge tranche. Notably, the transactions attracted investors who did not participate in DBK’s April placement, indicating a broadening and diversification of the Bank’s investor base. The joint lead managers and bookrunners for the issuance were Societe Generale, Citi, and Halyk Finance.

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[2025-07-04]