The Development Bank of Kazakhstan JSC (a subsidiary of Baiterek Holding, hereinafter — DBK, the Bank) has received high recognition from the prestigious international publication FinanceAsia. The Bank was named winner in the Best Bond Deal – China Offshore category for the successful placement in 2025 of the first yuan-denominated eurobonds among Central Asian issuers. The total issue amounted to CNY 2 billion with a three-year tenor.
The transaction became the largest yuan-denominated placement among CIS countries and the largest deal among BBB-rated issuers outside China. The bonds also achieved the lowest yield among BBB-rated issuances outside China over the past 15 years, reflecting strong demand from international investors and confidence in DBK’s credit profile.
The successful placement reflects DBK’s well-established long-term relationships with global investors, its deep understanding of debt capital markets, and its ability to execute complex and innovative transactions across new currencies and jurisdictions. The Bank is among the most active and leading Kazakhstani issuers in international capital markets, consistently reinforcing its reputation as a reliable borrower with an investment-grade rating.
“Recognition by FinanceAsia confirms the confidence of international investors in DBK and in Kazakhstan’s economy as a whole. Entry into the offshore yuan market has enabled us not only to broaden our investor base but also to set a new benchmark for regional issuers. We will continue our systematic efforts to diversify funding sources and attract long-term financing for strategic infrastructure and industrial projects,” said Marat Yelibayev, Chairman of the Management Board of the Development Bank of Kazakhstan.
FinanceAsia is a leading international publication specialising in capital markets, investment and corporate finance across the Asia-Pacific region. Its annual Achievement Awards recognise the most significant and innovative transactions, as well as the achievements of leading market participants across the region.
