By Reshmi Basu
New York, April 2 - Kazkommertsbank sold the second tranche of its bond offering, pricing $400 million of 10-year 7 7/8% senior notes at 99.15 to yield 8% Friday, according to market sources.
On Thursday, Kazkommertsbank priced $100 million of 10-year subordinated 7 3/8% notes (Baa3/B) at 99.535 to yield a spread of 464 basis points over Treasuries. The spread came in tighter than the price talk of 475 to 500 basis points.
Citigroup and ING ran the books on the two-part Rule 144A/Regulation S offerings.
Kazkommertsbank is the largest bank in Kazakhstan.
| Issuer: | Kazkommertsbank
|
| Amount: | $400 million
|
| Issue: | Senior notes
|
| Maturity: | April 7, 2014
|
| Coupon: | 7 7/8%
|
| Issue price: | 99.15
|
| Yield: | 8%
|
| Spread: | 411 basis points
|
| Pricing date: | April 2
|
| Settlement date: | April 7
|
| Bookrunners: | Citigroup, ING
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB-
|
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