Kazakhstan's Kazkommertsbank to issue $300 million five-year notes in the third quarter

By Reshmi Basu

New York, Sept. 1 - Kazkommertsbank plans to issue $300 million five-year notes (Baa2/BB-) in the third quarter, according to a market source.

The proposed issuance will be a Regulation S only deal.

Kazkommertsbank is the largest bank in Kazakhstan.

At the start of April it sold $400 million of 10-year 7 7/8% senior notes at 99.15 to yield 8% and $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. Citigroup and ING ran the books on the two-part Rule 144A/Regulation S offerings.

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