Halyk Savings Bank of Kazakhstan timely redeems international bonds XS0298931287, US40430AAB98 (HSBKe3) for $638.0 m

/KASE, May 5, 2017/ – Halyk Savings Bank of Kazakhstan (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE of the following: quote Halyk Bank of Kazakhstan (LSE: HSBK) announces the timely and full redemption of Eurobonds made on May 3, 2017 for 638,029,000 US dollars with a maturity of 10 years and a coupon rate of 7.25%, using the Bank’s own funds. Chairwoman of the Management Board of Halyk Savings Bank of Kazakhstan Umut Shayakhmetova gave her comments: "Halyk Bank repaid the Eurobond issue in full in accordance with the established schedule using its own funds, which we believe is another clear indication of our strong liquidity position. The bank did not have to raise additional funds in the international or local capital market to fulfill its payment obligations. It should also be noted that the Eurobond issue is an expensive instrument for funding with a coupon rate of 7.25% per annum. It is expected that the Eurobond issue repayment will decrease the average cost of funding for the Bank, which will positively affect the return on assets." unquote [2017-05-05]