Altyn Bank raises ~$240M in record debut bond sale on Kazakhstan's exchange
What's the deal? Altyn BankDealroom has a profile for this one. Try Dealroom →, a subsidiary of China CITIC Bank Corporation LimitedDealroom has a profile for this one. Try Dealroom →, has raised 106.2 billion tenge (about $240 million) in its debut bond placement on the Kazakhstan Stock Exchange (KASE)Dealroom has a profile for this one. Try Dealroom →. The bank said the amount was a record among debut local bond offerings.
The details: The three-year bonds carry an annual interest rate of 16.5%, close to Kazakhstan's base rate. They form part of Altyn Bank's first bond program, which has a total volume of 200 billion tenge (about $453 million). Halyk FinanceDealroom has a profile for this one. Try Dealroom → and Centras SecuritiesDealroom has a profile for this one. Try Dealroom → acted as joint underwriters and arrangers.
What's the money for? Chairman of the Management Board Murat Baisynov said the funds will let the bank "diversify funding sources and support the further development of our business." He called the result "an important indicator of confidence in Altyn Bank, its financial stability and reliability."
Why now? The placement drew strong demand, with the order book reaching 106.2 billion tenge at close. More than 30 bids came in during bookbuilding from banks, insurance companies, brokerage firms, and asset managers, according to Halyk Finance Chairman Farhad Okhonov.
By the numbers: As of the end of August 2026, Altyn Bank's assets stood at 1.226 trillion tenge (about $2.78 billion), with net profit of 18.98 billion tenge (about $43 million). In April 2026, Fitch RatingsDealroom has a profile for this one. Try Dealroom → upgraded the bank's long-term issuer default rating from BBB to BBB+, with a Stable Outlook.
The signal: A record debut on the local market points to deepening investor appetite for Kazakh corporate bonds. For Altyn Bank, the placement broadens its funding base beyond deposits and marks its first move into the debt market.
Read more: trend.az
Image credit: thetaxhaven
