Kazakhstan in search for investors for its new eurobonds

/IRBIS, Apr.4, 00/ - REUTERS informs, with the reference to London bankers, that Kazakhstan, willing to return to international eurobond market, will conduct a road-show in London in search for investors during the next week. Post-soviet state with its current $473.3 mln external debt, including eurobonds, plans to launch new eurobonds denominated in U.S. dollars to repay its current debt, states the agency. As the lead-managers Deutsche Bank and J.P. Morgan inform the road- show will start in London on April 10 and move further to Frankfurt, Geneva, Boston and New York. However, no specific numbers were given with respect to the size of the issue and maturity term of eurobonds. Last month the government of the country said it planned to borrow from $200 to $500 mln on international market for capitals this year, though no specifics were given either. The country launched five year bonds for $300 mln last year as it did with eurobonds in 1996 and 1997, and it had no defaults on them. The first 1996 issue was repaid last year completely and on time. Kazakhstan, rich in natural resources and suffered from the Russian crisis and devaluation of Russian rouble in 1998, still faces with difficulties notwithstanding the growth in the world oil prices.