Kazakhstan taps Renminbi bond market

The issuance of a sovereign panda bond, in addition to a dim sum bond from the Development Bank of Kazakhstan, will give the country Renminbi benchmarks.

Kazakhstan is expanding its use of Renminbi-denominated debt, with its Ministry of Finance and the Development Bank of Kazakhstan (DBK) raising a combined Rmb10.3 billion ($1.53 billion) from China’s onshore and offshore bond markets in September.

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