Kazakhstan's Fintech Giant Kaspi Targets $500 Million Bond Deal
Kaspi.kz JSC, Kazakhstan's most valuable public company, could issue its first bond as soon as Tuesday, having marketed the debt to international fixed income investors last week, according to people familiar with the matter.
Almaty-based Kaspi, which operates banking and payment services across Kazakhstan, is looking to raise $500 million or more from a five-year bond, according to the people, who requested anonymity as details aren't public. Citigroup Inc. and JPMorgan Chase & Co. are arranging the transaction, the people said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
2 hours ago
- Newsweek
US Home Prices Break Records Despite Cooling
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. U.S. home sale prices reached a record high during the four weeks ending June 15, hitting a peak of $396,500, according to the latest Redfin data, up 1 percent from a year earlier. It might be a discouraging figure for prospective homebuyers who have been struggling for years now with sky-high prices and historically elevated mortgage rates. But while home prices are still holding steady, experts do not expect them to continue rising for long, as new listings continue rising and inventory grows across the country. Why Are Home Prices Still Climbing? The main reason why home prices continue rising is that there is still a massive imbalance between supply and demand in the country, even if inventory has finally started rebounding over the past year. According to an estimate by the Washington-based think-tank Brookings, the U.S. housing market was short by nearly 5 million homes in 2024. In an aerial view, single-family homes in a neighborhood in Thousand Oaks, California, on April 18, 2025. In an aerial view, single-family homes in a neighborhood in Thousand Oaks, California, on April 18, while prices are still inching up, they are doing so at a much slower pace than they were over the previous five years, which saw double-digit year-over-year increases, or at the beginning of the year, when it was around 5 percent. In fact, we could say that they are now flatlining. Buyers are also negotiating and obtaining significant discounts over sellers' original asking price; according to Redfin data, the median sale price of a typical U.S. home is roughly $26,000 lower than the median asking price of $422,238. This is happening because buyers are gaining the upper hand in a market where sellers outnumber them by roughly 500,000, according to a recent Redfin report. While many sellers have decided to stop waiting for mortgage rates to come down to sell their properties, many buyers are being kept on the sidelines by high prices and monthly payments, and are leaving those listings sitting idle on the market for increasingly long periods of time. New listings of homes for sale were up 4.4 percent in the four weeks ending June 15 compared to a year earlier, while total listings were up 14.5 percent. Pending sales, during the same time frame, were down 1.5 percent year-over-year, and mortgage-purchase applications were down 3 percent week-over-week. The result is that sellers, especially those who approached the market hoping to get as much as they would have for their home during the pandemic homebuying frenzy, are having to meet buyers where they are at, lowering their asking price. "I'm explaining to sellers more and more that we need to be strategic in our pricing strategy because homes that are overpriced, even slightly, are likely to sit on the market and invite buyers to negotiate," said Kelly Connally, a Redfin Premier agent in Tulsa, Oklahoma, in a press release. "Pricing is most important, but with fewer buyers than usual out there, sellers should also make sure their home is in excellent condition and be ready to make repairs upon inspection," Connally added. "There are a few exceptions: homes in desirable locations that are in perfect condition are still hot and typically sell at or above asking price." When Will Prices Finally Come Down? Experts believe that, by the end of the year, home prices will finally start falling, even if modestly. Redfin expects home prices to decline by 1 percent year-over-year by the end of 2025, with parts of the country that have experienced the biggest surges in inventory reporting even steeper price drops. "The key for price changes will be to track growing inventory and time on market, especially relative to their pre-pandemic levels when the market was more balanced," senior economist Jake Krimmel previously told Newsweek. "Markets with high inventory and longer time on market are more likely to see price corrections. Overall, we expect a slow rebalancing rather than a sharp correction—unless economic conditions shift more dramatically."
CNBC
2 hours ago
- CNBC
The Iran-Israel conflict isn't denting Chinese business optimism in the Middle East
BEIJING — The recent flare-up in Middle East tensions isn't denting Chinese business optimism about opportunities in the region. Chinese shipments to Dubai's logistics hub have risen by 20% this month from a year ago, as locals stock up on batteries and daily necessities, according to estimates from Bear Huo, China general manager at FundPark, a fintech startup that lends money to small Chinese businesses selling overseas via internet platforms. "Overall, Chinese merchants are relatively optimistic," he said Monday in Mandarin, according to a CNBC translation. That's partly due to the relatively recent rise of the Middle East as a fast-growing market, he added. Chinese companies have increasingly turned to the region in the last few years — whether to raise money from local investors or to tap a new market for electric cars — amid trade tensions with the United States. On the geopolitical front, Beijing helped Riyadh and Tehran restore diplomatic relations in 2023. Huo's view is that the Iran-Israel tensions will end relatively soon, given that even the U.S. strikes have targeted specific strategic sites, and as fighting isn't spread out along a border as in the drawn-out conflict between Russia and Ukraine. Nevertheless, risks remain elevated as the Dubai port is right across the Strait of Hormuz from Iran. Ships are moving more slowly and there are fewer flights, Huo said. He said he does not know where products from Chinese sellers go to after they arrive in Dubai, and added that the company doesn't directly do business with Iran because of sanctions. China's Ministry of Foreign Affairs said it "strongly condemns" the U.S. attacks on Iran over the weekend, while calling on all parties involved to "reach a ceasefire as soon as possible." China's trade with Iran has dropped sharply in the last two years, according to customs data accessed via Wind Information. The U.S.-sanctioned crude exporter has relied significantly on Beijing's purchases. "A more stable Middle East serves China's economic and strategic interests," said Yue Su, Beijing-based principal economist for China at the Economist Intelligence Unit. "Beijing will be interested to position itself as a constructive power capable of contributing to global stability," she said. She noted that Chinese businesses will likely interact cautiously with Iran, given concerns over possible secondary sanctions. State news broadcaster CCTV aired interviews Sunday of Chinese citizens grateful for Beijing's efforts to evacuate them from Iran. While there are strict warnings on U.S. citizens traveling to Iran, Chinese citizens have been able to visit Iran without a visa for three weeks, for tourism or business. Most Chinese nationals who were in Iran have been evacuated, the Chinese Embassy in Iran said Monday. On an even more optimistic note, if the latest escalation results in a relaxation of U.S. sanctions on Iran, tens of thousands of Chinese businesses would likely rush to the Middle Eastern country to build up its tourism, real estate and overall infrastructure, said Qin Gang, Beijing-based founder of a consultancy that translates as Ode & Song Cultural Industry. He said he visited five cities in Iran in 2013 at the invitation of Mahan Air, a private-sector Iranian airline.
Hamilton Spectator
8 hours ago
- Hamilton Spectator
Chipotle opening two Burlington restaurants, including one this coming week
Chipotle Mexican Grill is opening two new restaurants in Burlington. The first local location of the California-based company is scheduled to open Wednesday, June 25 at Burlington Centre mall ( 777 Guelph Line ). Cornerstone Centre owner Krpan Group confirmed another Chipotle is preparing to open at the 2500 Appleby Line plaza, but the opening date was not available by deadline. A location of the Canadian company Rosie's Burgers recently opened at Cornerstone Centre. A RioCan spokesperson said the Burlington Centre Chipotle will be on the Guelph Line side of the mall, near Five Guys Burgers & Fries. Chipotle spokesperson Mohit Patel said the first location is hiring staff. 'There are 30 jobs per location on average,' Patel said. Patel said the positions include several benefits such as: tuition reimbursement, retirement savings matching, access to mental health care and bonuses for staff who refer other employees. More details on job openings and how to apply are available on the company's careers website . According to a press release, the first 50 customers at the Burlington Centre location on June 25 will receive a complimentary Chipotle T-shirt. The press release states the restaurant is scheduled to open seven days a week from 10:45 a.m. to 10 p.m. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
