Tashkent, Uzbekistan (UzDaily.uz) — The Eurasian Development Bank (EDB) has issued its first Dim Sum bonds on China’s offshore market in Hong Kong, raising 630 million yuan. Investor demand exceeded the amount offered by more than 2.5 times, while the coupon rate was set at 3.9%.
The bank issued three-year senior unsecured bonds listed on the Hong Kong Stock Exchange. The placement was carried out under a new US$3.5 billion medium-term note (MTN) programme.
The issue received an Ag rating from Hong Kong-based China Chengxin (Asia Pacific) Credit Ratings Company Limited (CCXAP). China Galaxy International, China International Capital Corporation (CICC) and CITIC Securities acted as global underwriters. Fosun International Securities and Orient Securities (Hong Kong) served as joint arrangers.
According to the EDB, the placement attracted interest from investors in Asia and the Europe, Middle East and Africa (EMEA) region.
The transaction will enable the bank to diversify its funding sources and gain additional access to yuan liquidity, complementing credit lines from Chinese banks.
The proceeds are intended to finance the construction of a border crossing and railway line on the Kazakhstan-China border, as well as other projects in Kazakhstan involving Chinese contractors, suppliers, investors, sponsors or co-founders.
EDB Chairman of the Management Board Nikolai Podguzov described the debut issuance as an important milestone in strengthening the bank’s position in Asian capital markets.
He said the transaction would broaden the bank’s investor base and provide an additional source of yuan funding for projects that support economic ties between Eurasia and China, including under the Belt and Road Initiative.
In August 2026, CCXAP became the first Hong Kong agency to assign the EDB a long-term credit rating of Ag with a stable outlook. Chinese rating agency China Chengxin International (CCXI) upgraded the bank’s global rating to Ag from A-g and affirmed its AAA rating on the national scale.
According to the EDB, by the end of June 2026, its cumulative portfolio comprised 348 projects with total investment of US$22.1 billion. Key areas include transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering.
Under its 2022–2026 Strategy, the bank is implementing three megaprojects: the Central Asia Water and Energy Complex, the Eurasian Transport Framework and the Eurasian Commodity Distribution Network.
