By Reshmi Basu
New York, Feb. 7 - JSC Alliance Bank of Kazakhstan sold a £250 million offering of four-year bonds (Ba2//BB-) at 99.794 to yield a spread of 425 basis points more than Gilts, according to a market source.
Dresdner Kleinwort, HSBC and UBS managed the sale, which was issued via ALB Finance BV, a Netherlands-based special purpose vehicle.
Alliance Bank, based in Almaty, Kazakhstan, is focused on small and medium enterprises and the retail segment.
Issuer: ALB Finance BV
Guarantor: JSC Alliance Bank
Amount: £250 million
Issue: Bonds
Maturity: Feb. 14, 2011
Coupon: 9¾%
| Issue price: | 99.794
|
| Spread: | 425 basis points more than Gilts
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 12
|
| Lead manager: | Dresdner Kleinwort, HSBC, UBS
|
| Ratings: | Moody's: Ba2
|
| Fitch: BB-
|
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