Published on 5/5/2006 in the Prospect News Emerging Markets Daily.
New Issue: Narodny Bank of Kazakhstan sells $400 million seven-year bonds at mid-swaps plus 220 bps
By Reshmi Basu
New York, May 5 - Narodny Bank of Kazakhstan sold $400 million of seven-year bonds (Baa2/BB/BB+) at 99.76 with a 7¾% coupon to yield 220 basis points over mid-swaps, according to a market source.
HSBC and JP Morgan managed the Rule 144A and Regulation S deal.
| Issuer: | Narodny Bank of Kazakhstan
|
| Amount: | $400 million
|
| Issue: | Bonds
|
| Maturity: | May 13, 2013
|
| Coupon: | 7¾%
|
| Issue price: | 99.76
|
| Spread: | 220 basis points more than mid-swaps
|
| Pricing date: | May 5
|
| Settlement date: | May 13
|
| Lead managers: | HSBC, JP Morgan
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: B-
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
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