Kazkommertsbank issues hybrid capital first

Kazkommertsbank yesterday became the first company from the former Soviet Union's Commonwealth of Independent States to sell a hybrid tier one bond, the closest form of debt to equity.

The Kazakh bank sold the $100m (€82.3m) subordinated bond via JP Morgan and UBS, while ING managed a $500m senior bond. Both parts were sold to US investors.

WSJ Logo
How Trump Got His ‘Big, Beautiful Bill’ Across the Finish LineExternal link

How Trump Got His ‘Big, Beautiful Bill’ Across the Finish Line