/KASE, October 16, 2025/ – Development Bank of Kazakhstan JSC (KASE ticker – BRKZ) reported the following:

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Development Bank of Kazakhstan JSC (a subsidiary of Baiterek Holding, hereinafter – DBK, the Bank) has successfully completed the placement of a dual-tranche Eurobond issuance in the international capital markets.

As part of the transaction, the Bank issued Eurobonds totaling USD 500 million with a 5.3-year maturity, a yield of 4.85%, and a coupon rate of 4.6%. The transaction achieved a record tight yield spread for DBK’s USD-denominated bonds of a similar tenor – 110.8 basis points above the interpolated U.S. Treasury yield curve.

The second tranche, denominated in Kazakhstani tenge, amounted to KZT 300 billion with a 3-year maturity, a yield and coupon rate of 18.4%, marking not only the largest tenge-denominated issuance in DBK’s history but also the largest local-currency Eurobond issuance in the region.

The Eurobonds were listed on the Vienna Stock Exchange, the Astana International Exchange of the AIFC, and the Kazakhstan Stock Exchange. J.P. Morgan, Citi Bank, and Société Générale acted as global coordinators and bookrunners, with Mashreq Bank serving as a joint bookrunner and ForteFinance JSC as the local financial advisor and underwriter.

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[2025-10-16]