Kazakhstan's Kazkommertsbank plans $100 million two-tranche bond offering

By Reshmi Basu

New York, March 19 - Kazkommertsbank is planning to launch a $100 million notes offering that will be divided into two tranches (Baa3/BB+), according to a market source.

The first tranche will be comprised of 10-year lower tier II bonds. The notes will be non-callable for five years.

The second tranche will include long-tem notes.

A roadshow is planned for Singapore, Hong Kong, London and the east and west coasts of the U.S.

Citigroup and ING are running the Rule 144A/ Regulation S issue.

Pricing is expected in the week of March 29.

Kazkommerstsbank is a Kazakhstan bank.

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