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Commentary & Deal Flow

NEW EM/SSA ISSUE: Baiterek NMH US$ Bnchmrk 3y Sr Notes; 6%A

IGC US Market: Deal Flow - GeneralIGC US Market: Deal Flow - SSAIGC European Market: Deal Flow - General

Baiterek National Managing Holding JSC (KAZAKS), exp Baa1/BBB by Moody's/Fitch, US$ benchmark 144A/Reg S 3y sr notes due 5/8/28. Citi (B&D)/HALYK/JPM joint books. UOP: gcp, including the provision of funding to the Issuer's subsidiary companies. Pricing 4/29. Settle 5/8. IPTs: 6% area.