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]