BANK CASPIAN JSC (Kazakhstan) successfully closed deal on floatation of its debut eurobonds for the amount $150.0 m.

/KASE, October 18, 05/ - BANK CASPIAN JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, spread press release informing that on October 11 the bank successfully held debut floatation of eurobonds (XS0232868827; KASE's official "A" listing category, CSBNe1; USD150 m., October 17, 05 - October 17, 08, fixed semiannual coupon 7.875% APR; floatation price - 99.672% with yield 8.00% APR). Lead-manager of this issue was Citigroup Global Markets Limited. According to data of the issuer geographically floatation looked in this way: Asia - 31%, Switzerland - 18%, Great Britain - 17%, USA - 8%, the other countries of Europe - 22% and CIS - 4%. Main buyers were private banks, whose stake is 48%. Banks and trust companies acquired 23% of eurobonds, companies of assets management - 16%. Borrowed money funds will be spend by the bank for financing of consumer crediting and crediting of small and medium business. International rating agencies Moody's Investors Service and Fitch Ratings assigned eurobonds ratings at the level "Ba2" and "B+" correspondingly, this matches with the bank's long-term ratings. "We absolutely specifically executed all directions, planned within the deal: obtained some level of re-subscription for our securities and definite orients in price", - INTERFAX-KAZAKHSTAN agency (hereinafter - IK) quotes speech of chairman of the board of BANK CASPIAN JSC Aleksey Mironov at press conference on Tuesday in Almaty. Characterizing price parameters, A.Mironov stressed, that floatation of eurobonds by bank Caspian, "at price better, than many other, more biggest Kazakhstan banks, was result of very considered and correctly built operation, and also accurate understanding and sensation of the market by transaction's lead-manager", which was represented by Citigroup Global Markets Limited, IK informs. According to information of IK A.Mironov informed, that Caspian became the first Kazakhstan bank, which floated this eurobonds issue taking into account adopted amendments in Kazakhstan's legislation, stipulating for parallel offer of issue abroad and Kazakhstan investors in open organized market. "The bank had to pass procedures, not tested earlier in the republic, however we expected more difficulties, than faced in reality. In this situation very flexible support rendered state financial supervision and Kazakhstan stock exchange", - A.Mironov stressed. [2005-10-18]