The Development Bank of Kazakhstan (DBK) is close to launching its debut sukuk, which it plans to sell in Malaysia. The deal, the first Islamic bond from the country, will be a quasi-sovereign issue, since DBK is wholly owned by the government of Kazakhstan.
DBK is holding investor meetings in Kuala Lumpur this week ahead of a potential sale. HSBC and Royal Bank of Scotland are managing the issue, which will be ringgit-denominated.
According to plans recently announced by the DBK, the first issue is likely to be between $200m and $300m