ASTANA – A ceremonial listing of Kazakhstan’s first-ever panda bonds in Central Asia was held on April 13, marking a milestone for the country’s and the region’s integration into global capital markets. The bonds, issued by the Samruk Kazyna Sovereign Wealth Fund, on China’s domestic market, total 3 billion Chinese yuan (US$439.2 million) with a three-year tenor and were priced at a record-low yield of 2.18% per annum.
The transaction provides direct access to one of the world’s largest and most liquid debt markets and is seen as a breakthrough for Kazakhstan and Central Asia’s capital market development, the fund’s press service reported. The listing ceremony brought together senior management of Samruk Kazyna, international financial institutions, and major transaction partners, including Bank of China, China International Capital Corporation (CICC), China Construction Bank, and Deutsche Bank (China).
Samruk Kazyna Chair Nurlan Zhakupov said the issuance represents a key step in the fund’s strategy to diversify funding sources and deepen integration into global financial markets. “This is our first entry into China’s domestic market. The issuance demonstrated a high level of investor confidence in the Fund and its financial resilience, and also marked an important milestone in strengthening the strategic partnership between Kazakhstan and China,” he said.
Bank of China and CICC noted that the transaction represents a historic achievement as the first Panda bond issuance by a Central Asian entity and a sovereign wealth fund in China’s onshore RMB market, highlighting deepening financial cooperation under the Belt and Road Initiative.
The ceremony concluded with the symbolic start of secondary trading on the Astana International Exchange, officially launching the bonds’ market circulation.