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TuranAlem taps 'blue blood' funds in first CIS sterling bond
Kazakhstan's Bank TuranAlem blazed a trail to the sterling market this week, becoming the first CIS borrower to issue in the currency. Bookrunner Deutsche Bank priced the ?200m three year transaction with a coupon of 7.125% to yield 214.2bp over the 4% March 2009 Gilt or 182bp over mid-swaps. At the time of pricing, BTA's 2010 dollar bond was trading at 175bp over mid-swaps.