Kazakh FIGs coming in from cold as DBK grabs $500m
Development Bank of Kazakhstan issued its first bond since 2005 late on Thursday, putting its name to a $500m offering that was six times oversubscribed. Citi, Deutsche Bank, JPMorgan and Halyk Finance priced the five year — DBK’s first 144A deal, its first benchmark and its only EMBI index-eligible debt — inside guidance of 375bp-400bp over mid-swaps and initial whispers of 400bp at 365bp.
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