Published on 5/5/2006 in the Prospect News Emerging Markets Daily.
New Issue: Narodny Bank of Kazakhstan sells $400 million seven-year bonds at mid-swaps plus 220 bps
By Reshmi Basu
New York, May 5 - Narodny Bank of Kazakhstan sold $400 million of seven-year bonds (Baa2/BB/BB+) at 99.76 with a 7¾% coupon to yield 220 basis points over mid-swaps, according to a market source.
HSBC and JP Morgan managed the Rule 144A and Regulation S deal.
Issuer: | Narodny Bank of Kazakhstan
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Amount: | $400 million
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Issue: | Bonds
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Maturity: | May 13, 2013
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Coupon: | 7¾%
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Issue price: | 99.76
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Spread: | 220 basis points more than mid-swaps
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Pricing date: | May 5
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Settlement date: | May 13
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Lead managers: | HSBC, JP Morgan
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Ratings: | Moody's: Baa3
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| Standard & Poor's: B-
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| Fitch: B+
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Distribution: | Rule 144A and Regulation S
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