Kazakhstan's Kazkommertsbank talks 2015 notes at 8%-8¼%; $100 million perpetual tier I notes at 9% area

By Reshmi Basu and Paul A. Harris

New York, Oct. 26 - OJSC Kazkommertsbank set price guidance for its dual-tranche offering of 10-year senior notes and perpetual tier I notes, according to a market source.

Talk on the tranche of benchmark-sized 10-year senior notes (Baa1/BB/BB) is 8% to 8¼%.

Meanwhile the talk on the $100 million perpetual tier I notes is in the area of 9%.

The notes will non-callable for 10 years with a coupon step-up after 10 years.

UBS, ING Investment Bank and JP Morgan are running the Rule 144A/Regulation S transaction.

The issuer is a full-service bank with headquarters in Almaty, Republic of Kazakhstan.

The roadshow concluded Wednesday.

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