Development Bank of Kazakhstan JSC (hereinafter referred to as the Bank, the DBK) has successfully executed its inaugural issuance of sustainability Eurobonds, raising 100 billion tenge with a three-year maturity, on the Vienna MTF platform.
This placement represents the first issuance of sustainability Eurobonds from the CIS region for a non-sovereign issuer in local currency in the entire history of Eurobond issuances by CIS issuers. The proceeds from the issuance will be directed towards financing and refinancing projects that meet both green and social project criteria.
AIFC Green Finance Centre (hereinafter referred to as the GFC), the absolute leader in verifying green and sustainable securities in the Central Asian region, provided a positive opinion on this issuance in accordance with the Green Bond Principles/Social Bond Principles/Sustainability Bond Guidance of the International Capital Market Association, as well as the Green Loan Principles and Social Loan Principles of the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications & Trading Association.
According to the Second-Party Opinion provided by the GFC, the Bank demonstrates an excellent level of proceeds management and allocation, eligible project selection, of quality of proceeds administration, as well as of reporting and disclosure on ongoing projects of environmental and/or social significance.
"The issuance of sustainability Eurobonds by the DBK represents a significant milestone for the sustainable finance market in our region. We are honored by the designation of the GFC as the verifier for this inaugural issuance in Europe. This initiative paves the way for the further development of sustainable financial instruments in the region, reaffirming our role in shaping an environmentally and socially responsible financial market," remarked Daniyar Kelbetov, Chairman of the Board of Directors of the GFC
For reference: AIFC Green Finance Centre, being the only organization accredited by international methodological centers in Central Asia for verifying sustainable financial instruments, actively contributes to the development of the sustainable finance market in the region. Currently, the GFC collaborates closely with issuers on the issuance of sustainable bonds on the following stock exchanges: Astana International Exchange (Kazakhstan), Kazakhstan Stock Exchange (Kazakhstan), Tashkent Stock Exchange (Uzbekistan), Central Asian Stock Exchange (Tajikistan), Baku Stock Exchange (Azerbaijan), and Kyrgyz Stock Exchange (Kyrgyz Republic).
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