Kazakhstan's Kazkommertsbank $100 million 10-year notes talked at 475 to 500 basis points

By Reshmi Basu

New York, March 29 - Kazkommertsbank's tranche of $100 million subordinated 10-year notes (Baa3/B) is talked at 475 to 500 basis points over the five-year Treasury, according to a market source.

After five years, the coupon will step up to a spread 1½ times the initial five-year spread.

The notes will be non-callable for five years.

Citigroup and ING are running the books on the Rule 144A/Regulation S deal.

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