Development bank of Kazakhstan offered 5-year eurobonds in the amount of $100m

/REUTERS, London-Almaty, September 27, 02/ - Development bank of Kazakhstan offered on Friday five-year eurobonds in the amount of $100m with the coupon of 7.125% APR at the price of 98.97% of the face value, says the message of UBS Warburg, lead-manager of the issue. The bonds issue has been assigned rating "ВВ" by the agency S&P and "ВВ-" - by Fitch. According to the estimation of the lead-manager, yield of eurobonds will equal to 7.375% APR. On October 2 the Ministry of finance of Kazakhstan intend to redeem issue of sovereign eurobonds in the amount of $350m, out of which about $210m will fall to the shares of Kazakhstan investors. Kazakhstan pension funds and banks take part in the primary floatation of debut eurobonds of Development bank. Below are terms of the issue, which were presented by the lead-manager (in English): ------------------------------------------------------------ Borrower The Development Bank of Kazakhstan Issue Amount $100 million Maturity Date October 10, 2007 Coupon 7.125 pct Issue price 98.97 Reoffer price 98.97 Spread 459 basis points Underlying govt bond Over Treasuries Payment Date October 10, 2002 Lead Manager(s) UBS Warburg Ratings BB (S&P), BB- (Fitch) Listing Lux Full fees 0.75 pct Denoms (K) 1-10-100 Governing Law English Negative pledge Yes Force Majeure Yes Cross Default Yes Notes Launched under issuer's EMTN programme ------------------------------------------------------------ [2002-09-27]