The Development bank of Kazakhstan launched a roadshow on its new eurobonds

/REUTERS, London, October 28, 03/ - The representatives of state-run Development bank of Kazakhstan started to present its new eurobonds for $100 mn, the bank's representatives informed journalists on Monday in London. The bank's Head Treasurer, Assel Yergaziyeva admitted that the bank intends to act very deliberately so that not to cross limits of amounts, which are needed for projects realization approved by the management. The last floatation of the Development bank of Kazakhstan's bonds took place in September 2002. Bonds with maturity term in 2007 were sold at 98.97 percent of face value, whereas now they are priced at 103.0 percent of face value. In addition, the demand exceeded the volume of issue three times - $300 mn against $100 mn, out of which $90 million the bank, which was founded at the expense of budget revenues for financing of long-term projects in non-raw material sector of Kazakhstan economy, lent to its clients. This time the bank intends to lengthen maturities of bonds, but not to increase borrowing amounts. According to Yergaziyeva, the bank also hopes to attract foreign investors again - thus, in the last year 76 percent of the issue was sold in foreign market. [2003-10-28]