EDB’s New Bond Issue to Help Finance Kazakhstan Projects

The Eurasian Development Bank (EDB) says it has placed a bond issue on the Kazakhstan Stock Exchange (KASE) with the proceeds to be used to invest in the Bank’s new projects in Kazakhstan.

Headquartered in Almaty, the EDB is an international financial institution investing in Eurasia, with member countries including Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan.

Arranged by Jusan Invest, this 3.5-year issue is valued at KZT 50 billion, with a coupon of 14.2% per annum, the Bank said on December 28th. This issue is the largest non-public offering in the market for 2023.

“The proceeds will be allocated to projects in Kazakhstan. The country currently accounts for 56% of the EDB’s investment portfolio. We plan to further increase investment, including in infrastructure projects in Kazakhstan,” said Nikolai Podguzov, Chairman of the EDB Management Board.

“We are proud to conclude this year with the EDB as a significant and reliable issuer. This issue has garnered substantial interest among investors, offering an appealing return over the medium term,” said Timur Salimov, Chairman of the Management Board at Jusan Invest.

The EDB has implemented 104 projects across various sectors in Kazakhstan, worth US $5.6 billion. These include solar and wind power generation facilities, the modernization of manufacturing enterprises, initiatives in the chemical sector, co-generation plants, street lighting networks, railway fleet upgrades, the development of agricultural companies, and the construction of airports and a gas pipeline.

Stephen M. Bland

Stephen M. Bland

 Stephen M. Bland is a journalist, author, editor, commentator and researcher specialising in Central Asia and the Caucasus. Prior to joining The Times of Central Asia, he has worked for NGOs, think tanks, as the Central Asia expert on a forthcoming documentary series, for the BBC, The Diplomat, EurasiaNet, and numerous other publications.
Published in 2016, his book on Central Asia was the winner of the Golden Laureate of Eurasian Literature. He is currently putting the finishing touches to a book about the Caucasus.

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