By Reshmi Basu
New York, Oct. 6 - JSC Nurbank sold a $150 million offering of five-year fixed-rate notes (Ba3/B issuer's rating) at 98.543 with a 9 3/8% coupon to yield 9¾%, according to a market source.
The deal came in line with price guidance that was in the 9¾% area.
Proceeds from the sale will be used to fund loans to customers and for general corporate purposes.
HSBC and ING were lead managers for the issue of Regulation S notes, which will be issued via NurFinance BV.
Nurbank is a mid-tier bank, based in Almaty, Kazakhstan.
| Issuer: | Nurbank
|
| Amount: | $150 million
|
| Issue: | Fixed-rate notes
|
| Maturity: | Oct. 17, 2011
|
| Coupon: | 9 3/8%
|
| Issue price: | 98.543
|
| Yield: | 9¾%
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 17
|
| Lead managers: | HSBC, ING
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: B
|
| Distribution: | Regulation S
|
| Price talk: | 9¾% area
|
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