Kazakhstan has issued panda bonds on the Chinese stock market for the first time, Kazakhstan’s Ministry of Finance reported.
The issuance of yuan-denominated bonds was completed on May 26, 2026. The issue size amounted to 3.4 billion yuan (roughly $500 million). The bonds have a three-year maturity and a coupon rate of 1.9% per annum.
According to the Ministry of Finance, during bookbuilding, demand for the bonds was twice the supply. The ministry believes this proves the trust of Chinese institutional investors in Kazakhstan’s macroeconomic indicators, including sustainable economic growth and low government debt.
Kazakhstan set a record by issuing...