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Bank TuranAlem placed 250 million USD Eurobonds

13.04.2006 / Press-service

Yesterday Bank TuranAlem placed 7-year 250 million USD Eurobonds. The deal was offered at 7.75% p.a. yield. Spread between the yields on 10-year U.S. Treasury bonds came to 307 basic points. The demand for Eurobonds exceeded the final sum of the deal 2 times.

JP Morgan Bank and ING Bank performed as organizers and issued Eurobonds as a part of EMTN program (Euro Medium Term Notes Program).

"Despite complicated market situation, the placing was conducted successfully" – says Roman Solodchenko, Deputy Chairman of BTA. "Bank TuranAlem is constantly expanding its investor base and, having placed bonds in Polish and US currencies in the beginning of the year, is not planning to issue senior Eurobonds in US Dollars".

JSC "Bank TuranAlem" – the system-making bank of Kazakhstan, the leader in creation of banking network on the territory of CIS. Bank’s assets exceed $8 billion; equity capital exceeds $1.37 billion. Bank’s shareholders are the world largest institutions such as EBRD, RZB, IFC and FMO. In Kazakhstan the Bank confidently holds the leading position among the second-tier banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the expansion of the range of provided services, as well as stable dynamic growth.