Within the framework of Astana Finance Days, a solemn listing ceremony of the second issue of sovereign panda bonds of the Republic of Kazakhstan took place on the AIX Exchange.

By continuing the successful history of Kazakhstan's presence in the Chinese capital market, the second issue of panda bonds totaling 6.6 billion yuan was carried out.

The second issue of sovereign panda bonds was successfully placed in two tranches: 5 billion yuan for 3 years at a rate of 1.82% and 1.6 billion yuan for 5 years at a rate of 1.95% per annum.

Of particular importance is the achieved level of yield, which has become a truly record low among sovereign issues in the panda bond market. At the same time, the total volume of demand in the book of applications was 2.5 times higher than the supply.

Successful placement and high interest confirm the strengthening of confidence in Kazakhstan and a high assessment of the country's credit quality.

The three-year and five-year tranches placed expanded Kazakhstan's sovereign yield curve in Chinese yuan and formed new yield benchmarks for future issues of Kazakh issuers.

The ceremony was attended by the leadership of the Ministry of Finance, Astana International Financial Centre (AIFC), AIX Exchange, as well as representatives of leading underwriters and partners of the transaction, including China International Capital Corporation Limited (CICC). The joint leading organizers were China Construction Bank Limited (CCB), Industrial and Commercial Bank of China Limited (ICBC), The Export-Import Bank of China и Bank of China Limited (BOC), AO «Teniz Capital Investment Banking».

Representatives of the Kazakh and Chinese sides noted the importance of further expanding cooperation in financial markets and developing new instruments of cooperation.

The ceremony symbolized the launch of trading at the Astana International Exchange.

Source : https://www.gov.kz/memleket/entities/minfin/press/news/details/1289588?lang=ru