By Reshmi Basu
New York, Oct. 22 - Kazkommertsbank, through its Kazkommerts International BV unit, priced an upsized $350 million offering of five-year fixed-rate notes (Baa2/BB-/BB-) at 98.967 to yield 7¼%, or 395 basis points over Treasuries, according to a market source.
The deal, which was increased from $300 million, came at the tighter end of price talk of 7¼ to 7½%.
ING and UBS Investment Bank ran the Rule 144A/Regulation S note offering.
Kazkommertsbank is one of the three largest banks in Kazakhstan.
| Issuer: | Kazkommerts International BV
|
| Amount: | $350 million
|
| Issue: | Fixed-rate notes
|
| Maturity: | Nov. 3, 2009
|
| Coupon: | 7%
|
| Issue price: | 98.967
|
| Yield: | 7¼%
|
| Spread: | 395 basis points more than comparable Treasuries
|
| Pricing date: | Oct. 22
|
| Settlement date: | Nov. 3
|
| Managers: | ING, UBS Investment Bank
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB-
|
| Fitch: BB-
|
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