Alliance Bank (Kazakhstan) informed of completing diversified payment rights securitization program

17.09.10 17:46
/KASE, September 17, 10/ - Alliance Bank (Almaty), common and preferred shares of which are admitted to circulation on Kazakhstan Stock Exchange (KASE) in the Unlisted Securities sector, provided to KASE a press-release of September 17, 2010 to the following effect: quote Alliance Bank (hereinafter - Bank) informed of debt repayment on diversified payment rights securitization program (hereinafter - DPR). The DPR repayment was effected on September 15, 2010 at an accelerated pace due to prepayment clause occurrence. The concluding payment made up USD46,683 th. Within the program three tranches have been released: one to the amount of USD100 mln. on bonds of series 2006А ("Bonds of series 2006А"), one to the amount of USD100 mln. on bonds of series 2006B ("Bonds of series 2006В"), and one to the amount of USD75 mln. on bonds of series 2007A ("Bonds of series 2007A"). M. Amrina, managing director of Alliance Bank said the following about the event: "The accelerated DPR repayment has created additional pressure on Bank liquidity. Nevertheless, the bank has managed to repay the debt in full in accordance with deal's conditions thanks to trust and support from customers, who kept using Bank money transfer services. The bank on its part, justified its customers' loyalty by timely and accurate international money transferring". "Asian Development Bank" (ADB), the bonds 2006А underwriter, ensuring the principal and the interest repayment, has expressed its satisfaction with results of the deal, which was repaid during restructuring itself as well upon its completion. "This proves once again the efficiency and the stability of diversified payment rights securitization deals on the developing financial market. After restructuring customer money flows have sharply increased, in connection with this ADB congratulates the Bank with this sign of customer trust, said S. Hrushka, investment specialist of ADB's Private Customers Department. For details please contact: PR department of Alliance Bank tel. +7 (727) 258 40 40 E-mail: web-site: unquote [2010-09-17]