Kazakh ATF Bank plans second bond by early 2005

/REUTERS, Olzhas Auyezov, Almaty, April 28, 04/ - Kazakhstan's number four bank ATF Bank plans to launch a second eurobond by early next year with a longer maturity and greater volume than a three-year $100 million bond issued last week, its chief said on Wednesday. "We will try to sell a bond with a longer maturity and higher face value either by the end of the year or early next year," chief executive Timur Isatayev told a news conference. Last week's bond -- the bank's first -- had a coupon of 8.5 percent and was sold at 99.353 percent of face value to yield 8.75 percent, lead manager ING Bank said on Tuesday. It had speculative grade ratings of Ba1 from Moody's and B+ from Fitch. Isatayev said the next bond would meet regulatory requirements allowing it to be sold to U.S. investors as well as Europeans. Oil-rich Kazakhstan's two largest banks, Kazkommertsbank and TuranAlem, each launched 10-year bonds worth a total of $800 million in March and April while the number three Halyk Bank plans to make its debut this year. The Central Asian state's banks are increasingly turning to the bond market to finance rapid expansion, both domestically and in neighbours Russia and Kyrgyzstan, as Kazakhstan's economy booms. ((Reporting by Olzhas Auyezov; Reuters Messaging rm://michael.steen.reuters.com@reuters.net, +7 3272 508 500)) [2004-04-28]