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Kazakhstan's Halyk Savings to repay KZT 10 billion bonds on Oct. 9
By Marisa Wong
Madison, Wis., Sept. 29 - Halyk Savings Bank of Kazakhstan announced that the repayment date of its KZT 10 billion of first-issue subordinated bonds originally due Oct. 9, 2017 has been changed to Oct. 9.
The bank notified the Kazakhstan Stock Exchange last week of the possibility of an early redemption of the bonds between Oct. 9 and Oct. 18.
As previously reported, 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 would not lead to a breach of prudential standards.
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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