WestLB and Merrill Lynch will act as organizers of issue of eurobonds of Kazkommertsbank

/INTERFAX-AFI, Moscow, March 28, 07/ - Kazakhstan commercial Kazkommertsbank appointed WestLB and Merrill Lynch as organizers of offering of three tranches of eurobonds, secured by diversified payment rights (DPR) at the level of risk, informed the agency Interfax-AFI the source in banking circles. Financial risks on tranches will be insured by MBIA Insurance, Financial Guaranty Insurance Company and Asian Development Bank. Each tranche will receive rating at the level "Aaa" from Moody's and "AAA" from S&P. The issue will be the third deal within the frames of existing program DPR of the bank according to the rule RegS/144A. On summer of the last year Kazkommertsbank had offered within the frames of program of security of the future incoming payments the eurobonds of two series for amount $200 m. Coupon rate of the securities - three months' LIBOR+24 basis points. Kazkommertsbank by the totals of year 2005 had occupied the 4th place according to volume of assets among banks of CIS in the ranking Interfax- 1000: Banks of CIS, prepared by Interfax-CEA, and 1st among more than 30 banks of Kazakhstan. [2007-03-28]