Alliance Bank OJSC has floated subordinate bonds of the 1st issue for KZT375.5 m, soon - for KZT390 m more

24.01.03, 00:00
/IRBIS, January 24, 03/ - Today Alliance Bank OJSC (Almaty) distributed press-release, in which it is said that the bank had got down to floatation of its internal indexed on tenge devaluation subordinate bonds of the first issue (KZ2CKY07A701, KASE's official "А" listing category, ASBNb1; KZT1, KZT3.0 bn, December 23, 02 - December 23, 09, semi-annual coupon 9.0% APR) at Kazakhstan financial market. According to the bank's information, at present there have been floated bonds for KZT375.5 m. In the nearest future Alliance Bank OJSC intends to float additionally bonds for KZT390 m. Major purchasers of the bank's securities are Kazakhstan pension funds and other juridical persons. It is also noted in the message that during the past year Alliance Bank OJSC reached significant successes in its development despite the fact that it is a new player of Kazakhstan banking sector. The bank's assets during the past year increased 2.8 times, having equaled to KZT21.98 bn. The bank's deposit portfolio during similar period increased 2.8 times and by the end of 2002 was equal to KZT16.7 bn. Only during December of the past year increase of deposit base was equal to about KZT1.4 bn. The bank's income, which is connected with receiving of interest for 2002 increased by 73%. In November of 2002 Alliance Bank OJSC made the second shares issue for KZT820.8 m, having increased authorized capital up to KZT2 bn. Along with increase of reserves and profit, it caused increase of shareholders' equity more than one time and a half and now it is equal to KZT2.07 bn. As the result of share floatation the bank obtained new shareholders in the person fo large Kazakhstan companies such as "Rakhat", group of companies "Ant" and other. In the end of November of 2002 Alliance Bank OJSC borrowed syndicated loan from leading Russian banks in the amount of $6,000,000. The loan has been given by banks syndicate for the term of 6 months with option of prolonging for 6 months more. Interest arte on the loan is three-month libor +4%. Agent of the deal was Russian investment group "Renaissance Capital", and number of syndicate's participants comprises large Russian banks: Trans Credit Bank OJSC and Bank "Russkiy Standard". Bonds of Alliance Bank OJSC of the first issue have been included into KASE's official "А" listing category since December 28 of 2002. Trades on the bonds at the stock exchange have not been opened yet. Status of the market-maker of ASBNb1 at KASE has been assigned to Alliance Investment Management LLP (Almaty). [2003-01-24]