By Reshmi Basu
New York, March 16 - JSC Kazkommertsbank sold a €300 million offering of five-year fixed-rate bonds (Baa2/BB+) at 99.296 with a 5 1/8% coupon to yield 5.289%, or 163 basis points over euro mid-swaps, according to a market source.
The issue priced at the tight end of revised price guidance of euro mid-swaps plus 163 to 165 bps. Guidance was narrowed from initial guidance of euro mid-swaps plus 160 to 170 bps.
ABN Amro was the bookrunner for the Regulation S transaction. The deal priced off the issuer's $1.5 billion medium-term note program.
The issuer is a full-service bank with headquarters in Almaty, Republic of Kazakhstan.
| Issuer: | Kazkommertsbank International BV (JSC Kazkommertsbank)
|
| Amount: | €300 million
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| Issue: | Bonds
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| Maturity: | March 23, 2011
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| Coupon: | 5 1/8%
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| Issue price: | 99.296
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| Yield: | 5.289%
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| Spread: | Euro mid-swap plus 163 basis points
|
| Pricing date: | March 16
|
| Settlement date: | March 23
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| Bookrunner: | ABN Amro
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB+
|
| Revised price guidance: | Euro mid-swaps plus 163-165 basis points
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