News
03 April 2020
China Construction Bank issues first RMB bond in Kazakhstan
Region:
Asia-Pacific
The first yuan-denominated bond - issued by the China Construction Bank, Astana branch - has been listed on Kazakhstan's Astana International Exchange and the Hong Kong Exchanges and Clearing Limited.
The RMB1 billion ($141 million) bond - the first of its kind in Central Asia - has an interest rate of 2.95% per annum and is available for professional investors. The funds raised will be used to support local infrastructure and Belt and Road projects in Kazakhstan.
Tim Bennett, CEO of the AIX, said the bond provided an innovative model for funding Belt and Road projects in Kazakhstan.
