Kazakhstan Temir Zholy and Kaspi.kz Eurobonds Listed on AIX
Astana International Exchange is pleased to announce the successful listing of senior unsecured Eurobonds issued by Joint Stock Company “National Company “Kazakhstan Temir Zholy” (KTZ) under its Guaranteed Global Medium Term Note Programme with a total size of up to USD 3 billion.
The issuance comprises two tranches:
Global Coordinators and Joint Bookrunners for the transaction were Citigroup, JPMorgan and Société Générale. Joint Lead Managers and Bookrunners included Abu Dhabi Commercial Bank, Deutsche Bank, Oman Investment Bank and Standard Chartered. Local Lead Managers in Kazakhstan were Teniz Capital and Freedom Broker.
Assel Mukazhanova, AIX CEO, said:
“The successful listing of KTZ’s Eurobonds highlights continued access of Kazakhstani issuers to international capital markets and reflects sustained investor interest in the region. The strong execution of both tranches demonstrates robust demand across maturities and underscores AIX’s growing role in connecting Kazakhstani issuers with global investors and supporting the development of the debt capital market.”
The listing expands the range of international fixed-income instruments available on AIX and provides investors with enhanced access to Kazakhstan’s sovereign-linked issuers.
The issuance comprises two tranches:
- a 5-year tranche in the amount of USD 500 million with a coupon rate of 4.875% per annum;
- a 10-year tranche in the amount of USD 500 million with a coupon rate of 5.25% per annum.
Global Coordinators and Joint Bookrunners for the transaction were Citigroup, JPMorgan and Société Générale. Joint Lead Managers and Bookrunners included Abu Dhabi Commercial Bank, Deutsche Bank, Oman Investment Bank and Standard Chartered. Local Lead Managers in Kazakhstan were Teniz Capital and Freedom Broker.
Assel Mukazhanova, AIX CEO, said:
“The successful listing of KTZ’s Eurobonds highlights continued access of Kazakhstani issuers to international capital markets and reflects sustained investor interest in the region. The strong execution of both tranches demonstrates robust demand across maturities and underscores AIX’s growing role in connecting Kazakhstani issuers with global investors and supporting the development of the debt capital market.”
The listing expands the range of international fixed-income instruments available on AIX and provides investors with enhanced access to Kazakhstan’s sovereign-linked issuers.
AIX also announces the listing of Eurobonds issued by Kaspi.kz.
The Eurobonds have a tenor of five years and carry a coupon rate of 5.9% per annum payable on semi-annual basis. The total issue size amounted to US$600 million and the team of local and global coordinators and bookrunners was represented by BCC Invest, Citigroup and JPMorgan.
Assel Mukazhanova, AIX CEO, said:
“The admission of Kaspi.kz Eurobonds to trading on AIX demonstrates sustained demand for strong Kazakh issuers and underscores the exchange’s role as a gateway linking local issuers with global investors’ community. The listing follows Kaspi.kz’s $650 million five-year Eurobond issuance in March 2025, priced at a 6.25% coupon. Robust international investors demand this year supported more competitive pricing, reflecting improved funding conditions for the Issuer.”
The Eurobonds have a tenor of five years and carry a coupon rate of 5.9% per annum payable on semi-annual basis. The total issue size amounted to US$600 million and the team of local and global coordinators and bookrunners was represented by BCC Invest, Citigroup and JPMorgan.
Assel Mukazhanova, AIX CEO, said:
“The admission of Kaspi.kz Eurobonds to trading on AIX demonstrates sustained demand for strong Kazakh issuers and underscores the exchange’s role as a gateway linking local issuers with global investors’ community. The listing follows Kaspi.kz’s $650 million five-year Eurobond issuance in March 2025, priced at a 6.25% coupon. Robust international investors demand this year supported more competitive pricing, reflecting improved funding conditions for the Issuer.”
