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Kazakhstan's Halyk Savings plans to call KZT 10 billion bonds due 2017
By Marisa Wong
Madison, Wis., Sept. 23 - Halyk Savings Bank of Kazakhstan notified the Kazakhstan Stock Exchange of the possibility of an early redemption of its KZT 10 billion of first-issue subordinated bonds due Oct. 9, 2017.
According to the notice, the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan said that an early redemption of the bonds will not lead to a breach of prudential standards.
Halyk thus plans to redeem the bonds in full on the next coupon payment date, which is Oct. 9.
The bonds will be redeemed at par.
The bonds accrue interest at the inflation rate, which is 10.6% per year in the current semiannual interest period.
Halyk is a financial services group and retail bank based in Almaty, Kazakhstan.
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