BAKU, Azerbaijan, September 28. Kazakhstan’s
Altyn Bank, a subsidiary of China CITIC Bank Corporation Limited,
has made its debut bond placement on the Kazakhstan Stock Exchange
(KASE), raising 100 billion Kazakh tenge (about $226.3 million),
the bank’s press service said today.


The placement attracted strong demand from market participants,
with the total volume of bids reaching 106.2 billion tenge (about
$240.3 million) by the time the order book closed. The bank said
the amount raised was a record among debut local bond
offerings.


Halyk Finance and Centras Securities acted as joint underwriters
and arrangers of the transaction.


The bonds were issued as part of Altyn Bank’s first bond program
with a total volume of 200 billion tenge (about $452.6 million).
The three-year bonds carry an annual interest rate of 16.5%, close
to Kazakhstan’s base rate.


“For a debut entry into the debt market, this is an absolute
record in terms of the amount raised on the local market. This
result and the high demand from investors are an important
indicator of confidence in Altyn Bank, its financial stability and
reliability. The funds raised will allow us to diversify funding
sources and support the further development of our business,” Altyn
Bank Chairman of the Management Board Murat Baisynov said.


Halyk Finance Chairman of the Management Board Farhad Okhonov
noted that more than 30 bids to purchase the bonds were received
during the bookbuilding process from various investors, including
banks, insurance companies, brokerage firms and asset managers.







“Altyn Bank’s debut issue has become an important transaction
for the corporate bond market. Strong investor interest enabled the
placement to be completed successfully and a broad investor base to
be formed,” Centras Securities Chairman of the Management Board
Talgat Kamarov said.


By a decision of the KASE Listing Commission, the bonds were
included in the exchange’s official list in the “Bonds” category of
the main trading platform.


As of the end of August 2026, Altyn Bank’s assets amounted to
1.226 trillion tenge (about $2.78 billion), while net profit
reached 18.98 billion tenge (about $43 million). In April 2026,
Fitch Ratings upgraded Altyn Bank’s long-term issuer default rating
from BBB to BBB+, with a Stable Outlook.


Conversions are made at the exchange rate of 441.88 KZT per
$1.