New Issue: Kazakhstan's Kazkommertsbank sells $500 million 10-year notes at 7¾%

By Reshmi Basu

New York, Nov. 21 - Kazkommerts International BV sold a $500 million offering of 10-year guaranteed senior notes (Baa1/BB+/BB+) at 98.282 to yield 7¾%, according to a market source.

The issue came in line with price guidance that was in the 7¾% area.

Credit Suisse and ING were the lead managers for the Rule 144A and Regulation S deal, which was issued through Netherlands-based Kazkommerts International BV, a subsidiary of Kazakhstan's commercial bank Kazkommertsbank.

Issuer:	Kazkommerts International BV
Borrower:	Kazkommertsbank
Amount:	$500 million
Issue:	Guaranteed senior notes
Maturity:	Nov. 29, 2016
Coupon:	7½%
Issue price:	98.282
Yield:	7¾%
Spread:	Treasuries plus 315 basis points
Pricing date:	Nov. 21
Settlement date:	Nov. 29
Lead managers:	Credit Suisse, ING
Ratings:	Moody's: Baa1
	Standard & Poor: BB+
Distribution:	Rule 144A and Regulation S

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