Samruk-Kazyna JSC has successfully closed the order book for its debut panda bond issuance, totaling CNY 3 billion with a three-year tenor in China’s domestic debt market, setting the final yield at 2.18% per annum.

The placement is being carried out under a registered program of up to CNY 10 billion, ensuring the Fund’s continued presence in the Chinese capital market.

The transaction marks not only the Fund’s debut in China’s onshore bond market, but also the first-ever entry of a Central Asian issuer into this market. It represents an important milestone in the strategy to diversify funding sources, expand the investor base, and secure access to long-term funding in renminbi.

The issuance was assigned an AAA rating by China Chengxin International Credit Rating Co., Ltd. (CCXI), in line with the issuer’s rating and confirming its strong credit quality.

Bank of China Limited acted as the lead underwriter and bookrunner. Joint lead underwriters and bookrunners included China International Capital Corporation Limited, China Construction Bank Corporation, and Deutsche Bank (China) Co., Ltd.

Panda bonds are issued in China’s domestic market and are regulated by the People’s Bank of China and the National Association of Financial Market Institutional Investors (NAFMII). The instrument provides access to one of the largest and most liquid debt markets in the world, offering a broad base of local institutional investors and competitive funding conditions.

The successful closing of the order book underscores strong investor confidence and confirms the attractiveness of Samruk-Kazyna’s credit profile in the international capital markets.