ASTANA, Kazakhstan, February 4. ForteBank successfully placed five-year Eurobonds worth $400 million on both the Astana International Exchange and the Vienna Stock Exchange, Trend reports via the Astana International Financial Center (AIFC).
"The investor demand was so strong that the coupon rate was reduced from 8.25 percent to 7.75 percent, which is a clear sign of renewed trust in Kazakhstan's banking sector," said Renat Bekturov, Managing Director of the AIFC.
According to Renat, this issuance sets a positive precedent for other banks in the region seeking to access international capital markets.
"The aftermath of the 2007-2009 financial crisis had a prolonged impact on investor confidence in all global banking sectors, and Kazakhstan was no exception. However, since then, the financial situation in the country has significantly changed, and now we are witnessing an important event: the first Eurobond issuance by a second-tier Kazakh bank in 12 years," he added.
The Astana International Financial Center (AIFC) is a financial center located in Astana, Kazakhstan. It was officially opened on July 5, 2018. The constitutional law “On the Astana International Financial Center” adopted on December 7, 2015, provides the legal framework for the AIFC’s operations and favorable conditions for its participants.
The AIFC is widely recognized as a financial institution and hub in the Central Asia and Eastern Europe region. Specially created conditions such as regulation in accordance with the best global standards, reliable financial infrastructure, an independent judicial system, and a focus on innovation and expertise enable businesses to attract capital for their development.
ForteBank is a private Kazakh bank. Its head office is located in the capital city of Astana, and its branch network spans across Kazakhstan with 20 branches and 100 outlets in 34 cities and towns. As of December 2024, ForteBank ranks 4th in terms of assets.