Kazakhstan sovereign wealth fund Samruk-Kazyna (Baa1/BBB–/ BBB) has mandated banks for a debut Panda bond offering.
Bank of China is the lead underwriter and bookrunner. China International Capital Corp, China Construction Bank and Deutsche Bank (China) are the joint lead underwriters and joint bookrunners.
The sovereign fund previously told IFR in an interview that the debut Panda bond will have a tenor of three years and a size of up to Rmb3bn (US$436m). It held a non-deal roadshow at the end of January.