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The bank is offering over 100bp of premium to the Kazakh sovereign
The bank is the largest in the country and a close proxy for investors to the government
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The trade might not be the sovereign's only one of the year -
Years of credit improvements have given landlocked country a loyal following among EM investors
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The countries' euro curves trade at similar levels, but Benin will have to come wider in dollars
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The issuers are diverse and will not cannibalise demand, said one banker
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The country rarely issues more than one public bond a year
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Previous changes of the central bank's governor were unwelcome, but the market was steady on Monday
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