Kazakhstan is considering selling its first foreign-currency bonds in more than a decade next year to help cover the budget deficit and pave the way for its first sovereign Islamic debt.
The central Asian nation “is not excluding the sale of as much as $1 billion of Eurobonds next year,” Deputy Finance Minister Ruslan Dalenov said in an Oct. 26 interview in the capital, Astana. “As the sukuk market is quite narrow, it’s more reasonable to sell Eurobonds first,” which will become a benchmark, and then the Islamic bonds, he said……………………………………….Full Article: Source