Bank RBK successfully issues Eurobonds in the amount of US$300 million

The transaction, executed on 19 May 2026, carries a coupon of 7.700% per annum. The net proceeds from the issuance are intended for general corporate purposes and for lending to projects within the economy of Kazakhstan.

The transaction marks Bank RBK’s inaugural Eurobond issuance in the international debt capital markets and underscores strong confidence from international investors in the bank’s credit story. Over the past few years, Bank RBK has undergone a significant transformation - rebuilding resilience and restoring trust - while delivering a marked improvement in financial performance under new management.

Government support has been fully repaid, the bank has optimized its loan portfolio mix, strengthened asset quality through balance sheet clean-up, improved profitability, and expanded the scale of its operations.

The transaction was successfully executed despite heightened geopolitical uncertainty related to the US/Iran conflict. The offering was widely marketed through in-person meetings and virtual investor calls across the UK, Europe, the US, the Middle East, and Asia. The order book was well oversubscribed, and the issuance was allocated 38.0% to the US, 18.7% to the UK, 17.6% to Continental Europe, and 25.7% to Asia, the Middle East, and Kazakhstan.

The new issue is rated BB by Fitch and Ba3 by Moody’s. The Notes will be listed on the Vienna MTF and the Astana International Exchange.

Citi and J.P. Morgan acted as Joint Lead Managers and Joint Bookrunners for the transaction. Teniz Capital served as the Kazakhstan Manager.

*License No. 1.2.100/245/41, issued by The Agency of the Republic of Kazakhstan on Regulation and Development of Financial Market on April 5, 2021.