Kazakhstan Biggest Eurobond Transaction Terminates23.01.2007 / Press-service
The biggest Eurobond transaction of Kazakhstan has been terminated. Final documents for US$1 billion Eurobond issue have been signed. Funds have been accepted at the bank’s correspondent account.
According to Head of Debt Capital Markets Division Sadyr Shaguzhayev, "this transaction has increased the trust of investors to Kazakhstani banking sector. The success of the transaction will have an absolute favourable effect on other transactions of the other Kazakhstani banks which follow us at the market."
TuranAlem Finance B.V. – subsidiary of Bank TuranAlem – has placed two bond tranches in US dollars for a total of $1 billion. The first 30-year tranche was placed for $750 million at the rate of 8,375% per annum, and the second two-year tranche was placed for $250 million at LIBOR+137,5 b.p. The major buyers of the bonds are American investors. Investors from Europe and Asia have also acquired a part of Eurobond issue.
JP Morgan и Credit Suisse are the organizers of the Eurobond issue.
The Eurobond issue was held under the Global Medium Term Note program.