Published on 5/6/2011 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Kazakhstan's Kazkommertsbank prices $300 million 8½% notes due 2018 to yield 8 5/8%
By Christine Van Dusen
Atlanta, May 6 - Kazakhstan's JSC Kazkommertsbank sold $300 million 8½% notes due May 11, 2018 (B2/B/B) at 99.353 to yield 8 5/8%, a market source said.
JPMorgan and UBS were the bookrunners for the notes, which matched guidance, whispered at 8 5/8%.
Kazkommertsbank is a lender based in Almaty, Kazakhstan.
| Issuer: | JSC Kazkommertsbank
|
| Amount: | $300 million
|
| Maturity: | May 11, 2018
|
| Description: | Notes
|
| Bookrunners: | JPMorgan, UBS
|
| Coupon: | 8½%
|
| Price: | 99.353
|
| Yield: | 8 5/8%
|
| Trade date: | May 5
|
| Settlement date: | May 11
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B
|
| Price talk: | Whispered at 8 5/8%
|
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