/REUTERS, London, 27.04.04/ - Kazakhstan's fourth largest private bank ATF Bank has sold its planned three year bond with a coupon of 8.5 percent at 99.353 percent of face value to yield 8.75 percent, ING Bank said on Tuesday.

The issue amount was $100 million. The bank told Almaty Stock Exchange at the start of the month it wanted to borrow up to $150 million via an international bond. Officials from ATF Bank held a roadshow of presentations in Europe for fund managers which ended on Thursday last week.

The bond is rated Ba1 by Moody's Investors Service and B+ by Fitch Ratings. These are both speculative grade ratings that restrict the borrower to a narrower potential investor base than investment grade ratings of Baa3/BBB- and above. ((reporting by Alexander Manda, editing by Chris Pizzey; Reuters Messaging alex.manda.reuters.com@reuters.net; telephone +4420 7542 9361))

[2004-04-27]