ADB issues first gender bond in Kazakhstan tenge

The Asian Development Bank raised KZT8.4 billion (about $20 million) from the first gender bond issued in Kazakhstan.

Proceeds of the bond will help finance the KZT38 billion Promoting Gender Equality in Housing Finance Project that aims to expand the lending operations of the Housing and Construction Savings Bank of Kazakhstan and promote affordable residential mortgage loans for women borrowers in largely rural areas. 

The bond pays a 10.15% semi-annual coupon and features a ten-year bullet maturity, redeeming in December 2030. The bond sets a new benchmark as the longest-maturity local currency bond issued by any multilateral development bank in Kazakhstan.