Kazakhstan repaid three year eurobonds on time - MF

/IRBIS, Dec.24, 99/ - REUTERS informs, with the reference to the representative of the Ministry of finance, that this week Kazakhstan repaid its first issue of eurobonds, which were issued in 1996 for $200 mln. "Kazakhstan met its obligations for eurobonds of 1996 fully and on time - December 20", - he said. It was the first time for Kazakhstan to go into international market by placing three year debt, denominated in dollars for a total of $200 mln and 9.25% APR coupon. Total maturity amount was not revealed by the representative, which was paid on December 20. However, as he said, part of the papers (about 12%) were restructured into eurobonds maturing in 2004. "Part of 1996 papers were bought back from the investors and was exchange for papers of 2004. Remainder was repaid in monetary terms", he said. The third issue of eurobonds were launched by the country in fall of 1999 for a total of $200 mln at 13.625% APR, and later total issue amount reached $300 mln considering two additional placements. The second issue was held in 1997 for $350 mln.