Development bank of Kazakhstan will issue eurobonds to the amount of $100m or EUR100m
20.09.02 00:00
/Almaty bureau REUTERS, Oljas Auezov, September 20, 02/ - the State
Development bank of Kazakhstan will issue five-year eurobonds to the amount of
$100m or EUR100m with fixed rate right after redemption of eurobonds of
Kazakhstan, which is planned for October 2.
This is said about in the banks materials, which were given on Friday to the
journalists before the press-conference of its governing body. The size of
yield on bonds was not shown in the documents.
The bank's managing director Askar Sembin said Reuters that issue currency
and the rate will be clear during bonds road-show, which will begin in the next
week in Europe.
Development bank of Kazakhstan, shareholders of which, together with the
Government, are local executive bodies of all Kazakhstan oblasts, was founded
in last year in order to finance large mid- and long-term projects in non-raw
stuff sector of economics.
The bank, the capital and equity of which as of July 1 of 2002 equaled,
correspondingly, to KZT30.5bn (about $200m) and KZT35.2bn, was assigned
ratings "ВВ" by S&P agency and "ВВ-" - by Fitch.
On Thursday Moody's agency increased Kazakhstan rating to investment one -
"Baa3" from "Ва2". Before Fitch and S&P assigned to the country ratings on the
level "ВВ".
[2002-09-20]