KAZAKHSTAN HAS IDENTIFIED LEAD-MANAGERS FOR OFFERING THE NEXT ISSUE OF EURONOTES

/IRBIS, March 21, 00/ - As REUTERS informs, Kazakhstan, who plans to launch the next issue of euronotes this year, identified lead-managers for the issue. This time they are Deutsche Bank and J.P. Morgan. The results of the tender were to REUTERS over the telephone given by the director of state borrowing department of the Ministry of finance of Kazakhstan Arman Dunaev. He says volume and currency of the issue, as well as placement terms will be determined along the way by cooperation with the lead-managers. Supposedly, bonds will be nominated in U.S. dollars. As vice-prime Erjan Utembaev said previously, issue volume of Kazakhstani euronotes could be from $200 to $500 mln. REUTERS, with the reference to western experts, informs that Kazakhstan plans to use the funds received from the placement of euronotes mainly to pay off its external debt which is estimated at $473.3 mln this year against $643.1 mln in 1999. Planned issue is the forth for Kazakhstan. The first issue (XS0072056863, $200 mln) was placed with the help of ABN AMRO Bank on December 20, 96 and was successfully repaid on December 20, 99. The lead-manager of the second issue (XS0080679961, Oct.2, 97, $350 mln for 5 years) was J.P. Morgan. The third issue was launched on Oct.18, 99 (XS0102764031, $200 mln for 5 years) with the help of ABN AMRO Bank NV and Deutsche Bank AG and later additional two placements were held: on Nov.4, 99 for $25 mln (repayment date - Nov.22, 99) and on Nov.26, 99 for $50 mln (repayment date - Dec.15, 99).