Kazakhstan's Kazkommertsbank partially buys back four series of notes

By Jennifer Chiou

New York, July 1 - Kazkommertsbank said that it purchased more than 10% each of the following eurobonds issued by Kazkommerts International BV and guaranteed by the bank:

• $64,215,400 of the $400 million of 7 7/8% bonds due April 7, 2014 at an average price of 60.9;

• $81,238,000 of the $500 million of 8% bonds due Nov. 3, 2015 at an average price of 53.0;

• $57 million of the $500 million of 7½% bonds due Nov. 29, 2016 at an average price of 56.3; and

• ¥8.98 billion of the ¥25 billion of floating-rate bonds due July 6, 2009 at an average price of 92.8.

The Almaty, Kazakhstan-based bank said it intends to cancel the repurchased bonds. It previously announced the redemption of all of the $850.4 million of outstanding notes it issued under a securitization program on June 12.

© 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.