By Paul A. Harris
St. Louis, Mo., April 24 - Kazkommertsbank International BV priced €150 million of senior notes due May 8, 2007 (Ba2/B+/BB-) at 99.043 to yield 10 3/8%, a syndicate source told Prospect News on Wednesday.
Price talk was 10 3/8% area.
The Rule 144A notes, brought to market by joint lead managers ABN Amro and JP Morgan, are non-callable.
The company is a financial institution based in Kazakhstan.
Issuer: Kazkommertsbank International BV
| Amount: | €150 million
|
| Maturity: | May 8, 2007
|
| Type: | Senior notes
|
| Managers: | ABN Amro, JP Morgan (joint leads)
|
| Coupon: | 10 1/8%
|
| Price: | 99.043
|
| Yield: | 10 3/8%
|
| Spread: | 590 basis points
|
| Call features: | Non-callable
|
| Settlement date: | May 8, 2002
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: B+
|
| Fitch: BB-
|
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