Development Bank of Kazakhstan plans dollar-, tenge-denominated notes

By Marisa Wong

Los Angeles, April 2 – JSC Development Bank of Kazakhstan announced it plans to issue dollar-denominated and tenge-denominated bonds under its medium-term note program, according to a news release.

The new note offerings are expected to close on or around April 15.

Proceeds from the new notes are expected to be used to fund tender offers for the company’s existing dollar- and tenge-denominated notes due 2025. The company intends to use existing cash on hand to fund any remaining portion of the tender offers.

An amount equal to the proceeds from the new tenge-denominated notes will be used in accordance with the company’s green and sustainability financing framework.

The bank is based in Astana, Kazakhstan.

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