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LONDON - JSC Development Bank of Kazakhstan has completed its dual-currency bond offering without any price stabilization measures, according to a statement released Thursday by J.P. Morgan Securities PLC.
The Kazakhstan-based development bank issued $500 million in long 5-year fixed-rate senior unsecured notes priced at 98.852% and 300 billion Kazakhstani tenge (KZT) in 3-year fixed-rate senior unsecured notes priced at 100%.
J.P. Morgan Securities PLC served as the stabilization coordinator for the offering, while Citi and Societe Generale acted as stabilization managers. However, no stabilization activities were undertaken during the offering period, as noted in the post-stabilization announcement.
The bonds will be listed on multiple exchanges, including the Vienna MTF, Astana International Exchange (AIX), and Kazakhstan Stock Exchange (KASE).
This dual-currency issuance represents a significant capital raising activity for the Development Bank of Kazakhstan, a state-owned financial institution that supports economic development projects within the country.
The announcement follows a pre-stabilization notice issued on October 8, 2025, and confirms that no market intervention was necessary to support the price of the securities during the initial offering period.
According to the press release statement, the information was provided through RNS, the news service of the London Stock Exchange, which is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
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