DBK prints $1bn as Kazakh scarcity drives yields below Russian comps
Development Bank of Kazakhstan printed $1bn 4.125% October 2022s on Wednesday night in the final stage of its intermediated bond exchange. The scarcity of Kazakh paper allowed DBK to price at a 4.326% yield, inside comparable issuers Sberbank, VTB and the Eurasian Development Bank, despite some of those being marginally higher rated.
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