ADB issues green bonds in Kazakhstan tenge

The Asian Development Bank has raised almost KZT14 billion ($32 million) in the first green bonds auctioned and listed on the Kazakhstan Stock Exchange.

Proceeds of the bond, which were issued under ADB’s Green Bond Framework, will finance the lender's portfolio of climate change adaptation and mitigation projects in Kazakhstan.

The two-year KZT10.09 billion and KZT3.87 billion bonds pay 10.10% and 10.12% semi-annual coupons, respectively. Denominated and settled in KZT, the bonds were arranged by Tengri Partners and sold to banks and institutional investors in the domestic market.