Central Asia
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Kazakh issuers have been busy in international bond markets this year -
Uzbek bank's deal is the first deal from the country in 2026
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The lender started investor meetings late in April
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The trade is the first from a 'mid-tier' Uzbek lender
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There is still a pipeline of issuance from the country
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Investors are getting plenty of state owned issuance from Kazakhstan this month
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More deals are expected later in the week
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Issuers are coming at different tenors in dollars, and one with a rare global bond
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Underwater trading was due to softer market conditions on Thursday, said a syndicate banker
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In 2022, the Kazakh railway company aborted plans to issue in dollars
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The bank is offering over 100bp of premium to the Kazakh sovereign
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The spread to the sovereign was well over 100bp at initial pricing
