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Kazakh Kazkommertsbank mulls $300 mln Eurobond

Tue Feb 5, 2008 5:45am EST

MOSCOW, Feb 5 (Reuters) - Kazkommertsbank KKGBq.L KKGB.KZ, Kazakhstan's biggest bank, is considering issuing $300 million in Eurobonds in the second half of this year, a bank official said on Tuesday.

"We could issue Eurobonds, but we don't want to borrow expensive money. In the first half there will be no issues, the second half will be more active," Alexei Sudarikov, the head of Kazkommertsbank's capital market department, told reporters.

Sudarikov also said the bank considered 12 percent as the maximum acceptable rate for a Eurobond issue. The bank also plans to securitize diversified payment rights (DPRs) but has yet to decide on volume and timings. (Reporting by Dmitry Sergeyev; Writing by Maria Kiselyova)



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