Recently issued tenge bonds in exchange for dollar Eurobonds serve as an attractive alternative to deposits, which can provide a similar low level of risk with higher incomes. We believe that due to its strategic role, the Company will not experience significant problems in servicing its debt obligations and we continue to recommend to BUY Samruk-Energo’s bonds. The main factor that guarantees the return of investors' funds remains state support in the person of the sole shareholder (Samruk-Kazyna).

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