Kazkommertsbank marketing subordinated loan participation notes

By Aaron Hochman-Zimmerman

New York, May 31 - Kazakhstan's Kazkommertsbank will issue 10-year lower tier II subordinated loan participation notes after a roadshow on June 5 and 6, according to a market source.

ING and UBS will handle the books.

The notes will be non-callable for five years.

The Regulation S deal is offered by the Kazakh investment and securities broker, based in Almaty.

On May 7 as part of a new ratings methodology, Moody's reported foreign-currency deposit ratings are unchanged at Ba1/not-prime and carry a stable outlook for Kazkommertsbank. The D bank financial strength rating, the Baa1/prime-2 foreign-currency debt ratings for senior unsecured obligations of Kazkommertsbank and Kazkommertsbank International BV and the Baa2 foreign-currency backed subordinated debt rating and Baa3 foreign-currency backed junior subordinate debt rating were placed on review for possible downgrade.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.