Development Bank of Kazakhstan issues eurobonds worth $1 billion

Azerbaijan, Baku, Nov. 28 / Trend E. Kosolapova/

Development Bank of Kazakhstan (DBK) has issued 10-year Eurobonds worth $1 billion, the Bank said on Wednesday.

"On Nov 26, 2012 the bank has successfully completed the international placement of eurobonds to the amount of $1 billion with a maturity of 10 years and 4.125 percent coupon rate per annum," the Bank said.

The issue structure envisages exchange of 5-year bank's eurobonds to the amount of $ 500 million with a coupon rate of 5.5% per annum and maturity in 2015.

"The deal will reduce the debt services cost and improve liquidity of the bank's Eurobonds," Deputy Chairman of the Bank Zhaslan Madiyev said.