Halyk Savings Bank to repay $300 million of 5½% Eurobonds due 2022

By Taylor Fox

New York, Nov. 30 – Halyk Savings Bank of Kazakhstan plans to repay $300 million of its $750 million 5½% eurobond due 2022 on Dec. 31, according to a news release.

Accrued and unpaid interest will also be paid.

The partial prepayment will be made to bondholders proportionally to their holdings of the notes.

The new pool factor after the redemption will be 0.331561934135, which will be applied to $748,012,457 face value of the notes.

This partial prepayment will allow the bank to optimize its capital and funding costs utilizing the excessive U.S. dollar liquidity of the bank.

The bank is based in Almaty, Kazakhstan.

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