Alliance Bank JSC (Kazakhstan) about floatation of its debut eurobonds for $150 m.

/Alliance Bank JSC, June 28, 05/ - On June 27 of 2005 Alliance Bank JSC floated its debut eurobonds for a total of USD150 m. among institutional and private investors from Europe and Asia. Floatation term is 3 years. The issue was registered on the international "Rule - S". Bonds with the coupon and yield of 9% were floated at the face value and are liable to repayment in June of 2008. HSBC and JP Morgan acted as the leading joint managers of the transaction. International investors submitted 48 bids for bonds purchase. Investors from European countries purchased 29% of total volume of the deal, investors from Great Britain purchased - 30%, from other European countries - 21%, Asian countries - 18% and off-shore companies of USA - 2%. Mainly banks and private banks were the purchasers, their stakes are 48% and 39% correspondingly. Stake of asset management funds is 13%. Moody's Investors Service assigned "Ba2" long-term rating to the issue. Fitch Ratings assigned "B+" rating. These ratings coincide with bank's long-term ratings. The borrowed funds will be used for financing various sectors of country's economy. As of June 1 of 2005: the bank's assets were KZT162.3 bn., liabilities - KZT145.5 bn., equity capital - KZT16.8 bn., bank's profit for 5 months of 2005 totaled KZT622.9 m. [2005-06-28]