BIG RESERVES OF KAZAKHSTAN
Investors flocked to Kazakhstan's first dollar-denominated bond in more than a decade, the first sovereign bond deal to include terms created in response to Argentina's acrimonious default.
The oil-rich Central Asian nation raised $2.5bn in 10- and 30-year dollar-denominated bonds, which were priced to yield 4.073 per cent and 5.116 per cent respectively.
The deal was heavily oversubscribed notwithstanding concerns about the falling oil price and the impact of an economic slowdown in neighbouring Russia. According to Halyk Finance, the brokerage arm of Kazakhstan's second-largest bank, the order book for the…
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