Azerbaijan, Baku, Jan. 9 / Trend E. Kosolapova/
Fitch Ratings has assigned Kazakhstan-based Subsidiary of Russian Sberbank 20 billion tenge (150.61 tenge = $1) senior unsecured bonds an expected Long-term local currency rating of 'BBB-(EXP)' and expected National Long-term rating of 'AA(kaz)(EXP)'.
The issue of 20 billion Series 2 notes in the framework of the second 100 billion note programme is anticipated in the first quarter of 2013. The bonds would carry a fixed semi-annual coupon of 6.25 percent and would mature in five years from the issuance date.
Kazakhstan's SBK, formerly Texakabank, was established in 1993 and was acquired by the Russia-based Sberbank in 2007. Sberbank currently owns 100 percent of SBK. At end of November 2012, SBK had a 5 percent market share of the Kazakh banking system's assets.
The bank has a Long-term local currency Issuer Default Rating of 'BBB-' and a National Long-term rating of 'AA(kaz)', both with Stable Outlook.
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