Central Asia

The unusual flight path of Kazakhstan's first Falcon bond

Kazakhstan's first offshore renminbi bond makes little financial sense but might go some way to repairing the suspicion built up of Belt and Road Initiatives in the country.

The club of cutely named foreign bonds has a new such member At the end of March, the first Falcon bond joined Kangaroo, Samurai and Panda bonds

A Rmb1 billion ($141 million) renminbi-denominated bond in Kazakhstan – the paper’s nomenclature is a nod to the country’s tradition of falconry – was sold via the Astana branch of China Construction Bank

Joint global coordinators, joint lead managers and joint bookrunners CCB, CLSA, Mizuho Securities, Standard Chartered Bank and Agricultural Bank of China (Hong Kong) priced the March 2022s at par to yield 2 95% This was 25bp inside initial guidance after books hit Rmb1 3 billion, according to a banker close to...

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