By Reshmi Basu
New York, Nov. 18 - JSC Bank TuranAlem, through its financing vehicle TuranAlem Finance BV, reopened its bonds due 2010 (Baa2/BB-) to raise $375 million, according to a market source.
The $375 million add-on to its 7 7/8% bonds due June 2010 priced at 104 for a yield of 6.987%, or a spread of 349 basis points over Treasuries.
The add-on brings the total size of the deal to $600 million.
JP Morgan and ABN Amro ran the books for the Rule 144A/Registration S reopening.
Bank TuranAlem is based in Almaty, Kazakhstan.
| Issuer: | TuranAlem Finance BV
|
| Guarantor: | JSC Bank TuranAlem
|
| Amount: | $375 million
|
| Issue: | Add-on to its 7 7/8% bonds due 2010
|
| Maturity: | June 2, 2010
|
| Coupon: | 7 7/8%
|
| Issue price: | 104
|
| Yield: | 6.987%
|
| Spread: | 349 basis points over five-year Treasuries
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 30
|
| Bookrunners: | JP Morgan, ABN Amro
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BB-
|
| Price guidance: | 104
|
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