Kazkommertsbank announces early redemption of subordinated international bonds XS0234398245 (US486668AA44, KKGBe24)
09.02.18 18:06
/KASE, February 9, 2018/ – Kazkommertsbank (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the press release dated February 9, 2018, which states as follows:
quote
JSC Kazkommertsbank (“the Bank”) announces early redemption of USD 100,000,000
Perpetual Loan Participation Notes (“the Notes”) issued by the Bank on 9 November
2005. The Bank has redeemed the Notes in whole out of its own funds.
Ulf Wokurka, Chief Executive Officer of the Bank, commented:
“Kazkommertsbank has made full early redemption of the Notes out of its own funds.
The Notes have been a rather expensive financial instrument for the Bank, with
floating coupon rate, which has been increasing during the last months. We expect
that early repayment of the Notes shall reduce the average cost of funding of the
Bank”.
Enquiries:
Alma Buirakulova
Head of FI & International Relations
Tel.: +7 (727) 258-51-25
E-mail: investor_relations@kkb.kz
Larissa Kokovinets
Deputy Director, Marketing & PR
Tel.: +7 (727) 258-54-56
E-mail: pr@kkb.kz
unquote
[2018-02-09]