Kazakh comeback

Emerging markets bankers are this week hailing the return of Kazakhstan to the bond market, as the country printed its first deal for 14 years, a $2.5bn 10 and 30 year note priced from a $10bn book. But as well as sating demand the that had been building for nearly a decade, the country also broken new ground, issuing the first deal incorporating ICMA’s full set of recommendations for a collective action clause.