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Commentary & Deal Flow

NEW EM/SSA ISSUE: Kazakhstan US$ Bnchmrk 5y Sr Notes; T+120A

IGC European Market: Deal Flow - SSAIGC US Market: Deal Flow - SSA

Republic of Kazakhstan (KAZAKS) exp Baa1/BBB-/BBB US$ benchmark 144A/Reg S 5y sr notes due 10/28/30. Citi (B&D)/JPM/StanChart joint books. Kazakhstan Lead Managers: Halyk Finance, Teniz Capital. Coupon: Semi-annual, 30/360. Denoms: 200k x 1k. Pricing 10/21. Settle 10/28. IPTs: T+120 area.