Valor Capital supports companies at every stage of bond issuance preparation and placement — from initial financial analysis and deal structuring to investor presentations and book-building.
We help businesses access the debt capital market on transparent and market-driven terms — raising financing, building a public credit history, and strengthening their standing within the investment community.
Our team brings together professionals with extensive experience in investment banking, asset management, and Kazakhstan's capital markets, including direct engagement with KASE, AIX, regulators, and the region's largest institutional investors.
Client Outcome
The client receives a flexible capital-raising instrument without equity dilution, strengthening financial stability and market reputation
KASE / AIX
Placement Venues
KZT / USD
Issuance Currency
1–10+ years
Maturity Period
Full Cycle
Advisory Support
Process
Every bond issuance is a project requiring coordination between the issuer, regulator, stock exchange, legal advisors, and the investment community. We manage this process end-to-end — from strategy to execution.
Bond placement begins well before the first investor meeting. We conduct a comprehensive assessment of the company's financial health — analyzing revenue, EBITDA, debt load (Debt/EBITDA, Net Debt/Equity), liquidity, and cash flows. We evaluate the issuer's creditworthiness from the perspective of potential investors and rating agencies.
Documentation quality determines investor confidence. We develop a complete document package — from the offering prospectus meeting AFSA, KASE, or AIX requirements to materials that shape the company's perception among institutional investors. Every document undergoes internal review and coordination with legal counsel.
Issue structure is a balance between the issuer's needs and market expectations. We determine the optimal placement venue — Kazakhstan Stock Exchange (KASE) or Astana International Exchange (AIX) — based on the company's profile, target investor base, and regulatory requirements. We select parameters that ensure maximum demand at the lowest cost of borrowing.
Placement success depends not only on issuer quality but also on how the company's story is communicated to the investment community. We manage the full marketing cycle — from crafting the investment narrative and key messages to conducting roadshows and one-on-one meetings with asset managers and banks.
"Bonds are more than just a debt instrument. They are a public statement of a company's maturity, planning capability, and readiness for dialogue with the market. Our mission is to make that dialogue as compelling as possible."
Benefits
Entering the bond market is a strategic decision that transforms the financial architecture of a business
Bonds allow raising significant capital for 1 to 10+ years without transferring equity. Shareholders retain full control of the company, and the cost of borrowing is locked in at a predictable level.
A public bond issuance signals market maturity and transparency. The issuer builds a public credit history, increases visibility among institutional investors, and lays the groundwork for future placements on more favorable terms.
Entering the bond market reduces dependence on bank lending, enables debt tenor and cost management, and creates competition among creditors — ultimately improving terms for the issuer.
For Whom
The bond market is open to companies of all sizes — from mid-sized enterprises to large holdings and quasi-state entities. The key requirement is a sustainable business, transparent reporting, and readiness for public disclosure.
Mid-Size & Large Companies
planning their first or repeat entry into the debt capital market
Holding Structures
seeking to centralize and optimize intra-group financing
Fast-Growing Businesses
that need capital for scaling without diluting the shareholder structure
Companies With Stable Cash Flow
ready to enhance their investment appeal through public instruments
Our Approach
Our team includes professionals with years of experience at the National Bank, KASE, and the country's leading investment firms. We understand the market from the inside — from regulatory requirements to the expectations of specific investors.
We don't pass the client between departments. One team leads the project from the first analytical note to post-placement support, ensuring continuity, speed, and quality at every stage.
Thanks to established relationships with asset managers, banks, and international investors, we deliver broad coverage and competitive pricing for every issue.
We are not interested in a one-off deal but in building lasting client relationships. A successful debut placement is just the beginning — followed by repeat market entries on increasingly favorable terms.
Submit a request and our team will contact you for an initial consultation. We will discuss the parameters of a potential issuance, assess the company's readiness, and propose the optimal market entry strategy.