Kazakhstan Returns to Dollar Bond Market After Decade Away
- First sale since 2015 targets premium of about 120bps to USTs
- Long 10-year sale goes ahead after risk of asset freeze abates
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Kazakhstan is returning to the dollar-bond market for the first time in almost a decade after a legal dispute that raised the threat of asset seizures was resolved earlier this year.
The government is offering long 10-year dollar-denominated bonds today, according to people with knowledge of the matter. Initial pricing for the benchmark-sized deal is about 120 basis points above the US Treasury curve, the people added, asking not to be identified because discussions aren’t public.