ForteBank’s Landmark AT1 Eurobond is Admitted to Trading on AIX

Astana International Exchange (“AIX” or “the Exchange”) is pleased to announce the successful listing and admission to trading of ForteBank JSC’s inaugural USD 400mln perpetual subordinated bonds (Additional Tier 1) on AIX and Vienna MTF. The bonds carry a coupon rate of 9.75% due semi-annually.

Through AIX, investor orders totaling USD 80 million were allocated. The transaction was jointly led by J.P. Morgan, First Abu Dhabi Bank, Commerzbank, and Mashreq as Joint Lead Managers and Bookrunners, with ForteFinance acting as the local placement partner.

The issuance attracted strong demand from major international financial centers, including the United Kingdom, the United States, Switzerland and Hong Kong.

Assel Mukazhanova, CEO of AIX, commented:

“We are pleased to see the growing international demand for bonds issued by Kazakhstani companies. The success of this placement underscores investors’ confidence in the country’s capital markets and reinforces AIX’s role as a trusted platform connecting local issuers with global investors. It also reflects the increasing trust in high-quality issuers from Kazakhstan and demonstrates the continued evolution of the nation’s capital markets, where issuers are actively exploring new structures and solutions.”

Reference:

AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, the Shanghai stock exchange, the Silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. www.aix.kz

The Astana International Financial Centre (AIFC) is a leading financial hub in the Eastern Europe and Central Asia region, designed to connect global capital with the vast opportunities of emerging markets. Positioned at the crossroads of Europe and Asia, the AIFC combines international best practices with innovative approaches to create a world-class platform for investment, business, and financial services. Since its establishment in 2018, the AIFC has attracted over USD 15.9 bln in investments into Kazakhstan’s economy. Over 4,000 companies from 80+ countries, including the USA, the UK, China, Turkiye, the Republic of Korea, Singapore, and others, are registered within the AIFC’s jurisdiction. www.aifc.kz