By Reshmi Basu
New York, Nov. 17 - JSC Bank TuranAlem is offering $200 million of three-year floating-rate notes (Baa2/BB-/BB) at 99.724 at Libor plus 175 basis points, according to a market source.
The issue came in line with price guidance, which was set at Libor plus 175 bps area.
Credit Suisse First Boston managed the sale of the Regulation S-only transaction through the bank's special purpose vehicle, TuranAlem Finance BV.
JSC Bank TuranAlem will guarantee the notes.
The Almaty, Kazakhstan-based bank is a commercial bank, which provides financial services to private commercial enterprises, state-owned enterprises and individuals.
| Issuer: | TuranAlem Finance BV
|
| Guarantor: | JSC Bank TuranAlem
|
| Amount: | $200 million
|
| Issue: | Floating-rate notes
|
| Maturity: | Nov. 24, 2008
|
| Coupon: | Three-month Libor plus 165 bps
|
| Issue price: | 99.724
|
| Yield: | Three-month Libor plus 175 bps
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 24
|
| Lead manager: | Credit Suisse First Boston
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB-
|
| Fitch: BB
|
| Price guidance: | Libor plus 175 bps area
|
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